Sunland Company receives a $70,000, 6-year note bearing interest of 12% (paid annually) from a customer at a time when the discount rate is 12%. 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 Sunland? (Round answer to 2 decimal places, e.g. 25.25.) Present value of note received $