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On December 31, 2020, Monty Company signed a $1,061,900 note to Flounder Bank. The market interest rate at that time was 11% The stated interest rate on the note was 9%, payable annually. The note matures in 5 years. Unfortunately, because of lower sales Monty's financial situation worsened on December 31, 2022. Flounder Bank determined that it was probable that the company would pay back only $637.140 of the principal at maturity. However, it was considered likely that interest would continue to be paid. based on the $1.061.900 loan. (a) Your answer is incorrect. Determine the amount of cash Monty received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, eg: 0.52513 and final answer to decimal places, eg. 5,275.) Amount of cash Monty received from the loan g 75' P E P