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The maturity value of a seven-month promissory note issued July 31, 2017, is $3275. What is the present value of the note of the date

The maturity value of a seven-month promissory note issued July 31, 2017, is $3275. What is the present value of the note of the date of issue if interest is 7.75%? Ignore any grace period.

The present value is $_____________

(Round to the nearest cent as needed.)

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