On December 31, 2017, Sheffield Company signed a $1,105,800 note to Tamarisk Bank. The market interest rate at that time was 11%. The stated interest rate on the note was 9%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Sheffield's financial situation worsened. On December 31, 2019, Tamarisk Bank determined that it was probable that the company would pay back only $663,480 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,105,800 loan. Your answer is correct. Determine the amount of cash Sheffield received from the loan on December 31, 2017. (Round present value factors to 5 decimal places,e.g.0.52513 and final answer to O decimal places, e.g. 5,275.) Amount of cash Sheffield received from the loan 1024060 Attempts: 2 of 3 used