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On January 1, 2013, ABC borrowed 1,000,000 from the bank. The bank charged a 4% origination fee. The principal is due on January 1, 2014

On January 1, 2013, ABC borrowed 1,000,000 from the bank. The bank charged a 4% origination fee. The principal is due on January 1, 2014 and 10% interest is due annually starting on January 1, 2014. What is the total current liability relating to the note payable as of December 31, 2013?

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