What is the present value of this note at inception

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Question - Bosworth Corporation accepted a? 5-year note receivable from Steelman Company on January 1, Year 1. The maturity value of the note is $800,000. The note has a stated interest rate of 10%. However, the prevailing market interest rate is? 12%. The note requires interest payments on June 30 and December 31. What is the present value of this note at inception?

Reference no: EM132830696

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