On January $1,2024,$ Sheridan Company issued for cash a $$1,180,000,3-$year note bearing annual interest at $8\%$ to Splish, Inc. The market rate of interest for a note of similar risk is $9\%.$ What cash would have been recorded on the issue date of the note? $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and the final answer to $0$ decimal places e$.$s$.58,971.)$

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Total Proceeds

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