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A company acquired land with a Fair Market Value of $220,000 on 1/1/14 by issuing a 3-year non-interest bearing note due 12/13/16. Assume 8% as
A company acquired land with a Fair Market Value of $220,000 on 1/1/14 by issuing a 3-year non-interest bearing note due 12/13/16. Assume 8% as the effective rate of interest. What is the face value of the note? (Enough information is provided to calculate)
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