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Marion Company issued a $ 3 5 0 , 0 0 0 , zero - interest - bearing, 5 - year note in exchange for

Marion Company issued a $

350, 000,

zero

-

interest

-

bearing,

5 -

year note in exchange for land with a fair market value of $

287, 000

from Palma Real Estate. If the present value of the note at an appropriat

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