Morrow enterprises purchased a building on Jan 1, 2006 in exchange for a 3 year non interest bearing note with a face value of 693,000. Independent appraisers valued the building at 550,125. 1) What amount should this building be capitalized? 2) Compute the present value of the notes future cash flows using three discount rates. 6%, 8%, 10%. 3) What is the effective interest rate of this note?