On December 31, 2019, Barrow \& Williams LLP finished consulting services and accepted in exchange a promissory note with a face value of $800,000, a due date of December 31, 2022, and a stated rate of 5%, with interest receivable at the end of each year. The fair value of the services is not readily determinable and the note is not readily marketable. Under the circumstances, the note is considered to have an appropriate imputed rate of interest of 10%. The followino interest factors are nrovided: Instructions: (a) Determine the present value of the note. (b) Prepare a Schedule of Note Discount Amortization for Barrow \& Williams LLP under the effective interest method. (Round to whole dollars.)