On December 31, 2019, Coronado Company finished consulting services and accepted in exchange a promissory note with a face value of $610,000, a due date of December 31, 2022, and a stated rate of 6%, 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 12%. The following interest factors are provided: Interest Rate Table Factors For Three Periods 6% 12% Future Value of 1 1.19102 1.40493 Present Value of 1 0.83962 0.71178 Future Value of Ordinary Annuity of 1 3.18360 3.37440 Present Value of Ordinary Annuity of 1 2.67301 2.40183