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On January 1, a 6-Year, $5,000, Non-Interest-Bearing Note Payable Was

Question 55

Multiple Choice

On January 1, a 6-year, $5,000, non-interest-bearing note payable was issued when the market rate of interest was 8%. The present value of the note is


A) $3,151.
B) $2,080.
C) $865.
D) $5,000.

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