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Mantle Mfg. Co. issued a seven-year, non-interest-bearing note with a face value of $800,000. Mantle received $361,900, resulting in an effective 12% interest rate. What

Mantle Mfg. Co. issued a seven-year, non-interest-bearing note with a face value of $800,000. Mantle received $361,900, resulting in an effective 12% interest rate.

What is the carrying value of the note at the end of the second year?

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