Current Attempt in Progress On December 31, 2020, Skysong Company signed a $1,067,100 note to Concord Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Skysong's financial situation worsened. On December 31, 2022, Concord Bank determined that it was probable that the company would pay back only $640,260 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,067,100 loan. (a) Determine the amount of cash Skysong received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to 0 decimal places, e.g. 5,275.) Amount of cash Skysong received from the loan $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit