Calculate the present value of the note

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Question - On January 1, 2015, Biotech Company made a loan to Spin Master Toys. In exchange, Biotech Company received a $55,000, 4-year note, bearing interest at 9% payable annually on December 31. The market rate of interest is 13%. Biotech Company has a December 31 year-end while Spin Master Toys' year-end is September 30. Please make sure your final answer(s) are accurate to the nearest whole number. Calculate the present value of the note.

Reference no: EM133106791

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