On December 31, 2025, Sheridan Company signed a $1,137,500 note to Skysong Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales, Sheridan's financial situation worsened. On December 31, 2027, Skysong Bank determined that it was probable that the company would pay back only $682,500 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,137,500 loan. (a) Your answer is correct. Determine the amount of cash Sheridan received from the loan on December 31, 2025. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to 0 decimal places, e.g. 5,275.) Amount of cash Sheridan received from the loan $ Determine the loss on impairment that Skysong Bank should recognize on December 31, 2027. (Round present value factors to 5 decimal places, e.g. 0.52500 and final answer to 0 decimal places, e.g. 5,275.)