At December 31, 2020, Coronado Corporation owes $529,700 on a note payable due February 15, 2021.

If Coronado pays off the note on February 15, 2021, and then borrows $1,059,400 on a long-term basis on March 1, how much of the $529,700 should be reported as a current liability at December 31, 2020, the end of the fiscal year?

The amount to be reported as a current liability at December 31, 2020