Find the present value of the note on the day

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On January 1, 20X1 Goodwin Ltd. bought some inventory from another company but instead of paying cash, the company issued a non-interest bearing serial note payable with a face (or par) value of $60,000 that requires the payment of $15,000 at the end of each of the next four years on December 31. Market interest rates were 5% on January 1, 20X1. In the blank boxes below, please provide the amounts asked for in each of the following questions in this order (when entering amounts please do not use commas, negative signs, dollar signs or cents).

Problem 1: The present value of the note on the day it was issued.

Reference no: EM132662835

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