On December $31,2023,$ Cullumber Company rendered services to Riverbed Corp. at an agreed price of $$97,354\mathrm{.}75.$ In payment,

Cullumber accepted $$38,160$ cash and agreed to receive the balance in four equal installments of $$19,080$ that are due each

December $31$ starting in $2024.$ An interest rate of $11\%$ is applicable.

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

The tables in this problem are to be used as a reference for this problem.

$($a$1)$

Your answer is incorrect.

Calculate the value of the note receivable at December $31,2023.($Round answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}25.$ For calculation

purposes, use $5$ decimal places as displayed in the factor table provided.$)$

Note receivable at December $31,2023,$$