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Marin Inc. loans money to John Kruk Corporation in the amount of ( $ 1 , 0 2 4 , 0 0 0

Marin Inc. loans money to John Kruk Corporation in the amount of \(\$ 1,024,000\). Marin accepts an \(8\%\) note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Marin needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of \(10\%\) compounded semiannually. What is the amount Marin will receive on the sale of the note? (Round factor values to 5 decimal places, e.g.1.25124 and final answer to 0 decimal places, e.g.458,581.) Amount received on sale of note \(\$ \)

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