On January 1, 2021, Westwood Corporation provided high-end cinematography services to Mattel Inc. and accepted in exchange a 3-yr 5% $4 000 000 promissory note with interest receivable each January 1. Similar notes carry an imputed rate of interest of 10%.

E. Determine the present value of the note received by Westwood Corporation.

P/Y =

C/Y =

N =

I/Y =

PMT = $

FV = $

PV = $

F. This note was issued by Mattel Inc. at __________(Par / Premium / Discount) of _____________