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Sheridan Company receives a $79,300, 9-year note bearing interest of 10% (paid annually) from a customer at a time when the discount rate is 11%.

Sheridan Company receives a $79,300, 9-year note bearing interest of 10% (paid annually) from a customer at a time when the discount rate is 11%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the present value of the note received by Sheridan?

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