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Lanier Corp. makes a loan to Harris Co. and receives in exchange a three-year, $350,000...

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Accounting

Lanier Corp. makes a loan to Harris Co. and receives in exchange a three-year, $350,000 note bearing interest at 6 percent annually. The market rate of interest for a note of similar risk is 8 percent. Calculate the present value of the note on the date of issuance.
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