On June 1, 2021, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a maturity value of $480,000 and a discount rate of 8%. Assuming straight-line amortization of the discount, what is the carrying value of the note as of September 30, 2021? (Round all calculations to the nearest whole dollar amount.)

Multiple Choice

• $460,800.

• $473,600.

• $512,000.

• $448,000.