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On January 1, 2023, Pharoah Corp. lent $56,000 to its CEO, interest-free. The loan is repayable in full in five years. The market rate for

On January 1, 2023, Pharoah Corp. lent $56,000 to its CEO, interest-free. The loan is repayable in full in five years. The market rate for similar loans (with similar credit risk) is 4%. Calculate the present value (fair value) of this loan

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