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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

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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 annu ally. The note matures in 5 years. Unfortunately, because of lower al situation worsened. On December 31,2019, Tamarisk Bank determined that it was probable that the 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. Determine the amount of cash Sheffield received from the loan on December 31, 2017.(Round present decimal places, e.g. 0.52513 and final answer to O decimal places, e.s.5.275.) Amount of cash Sheffield received from the loan value factors to 5 Attempts: 0 of 3 used Check Answer The narts of this auestion must be completed in order. This part will be available when you complete the part above

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