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Your firm recently reported $100,000 in accounts payable and $65,000 in notes payable. The firm has no accruals. The firm's retained earnings total $400,000. The

Your firm recently reported $100,000 in accounts payable and $65,000 in notes payable. The firm has no accruals. The firm's retained earnings total $400,000. The firm's total assets are $1,200,000. How much does the firm have in long-term debt?

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