Last year, on the balance sheet, Ward Co. had intangible fixed assets of $780,000, retained earnings of $875,000, accounts payable of $370,000, common stock & paid in capital of $550,000, notes payable of $105,000, inventory of $365,000, cash of $75,000, tangible fixed assets of $975,000, and accounts receivable of $220,000. What is the amount of the firms long-term debt?

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