1. On December 31, 2016, Red Company finished consultation services and accepted in exchange a promissory note with a face value of 800,000, a due date of December 31, 2019, and a stated rate of 5%, with interest receivable at the end of each year. The note is considered to have an appropriate imputed rate of interest of 10%. Determine the present value of the note. (2 Points) 700,530 800,000 601,056 800,002