Question: on December 3 1 , 2 0 2 5 , kingbird company signed a 1 1 8 4 4 0 0 note to oriole bank,

on December 31,2025, kingbird company signed a 1184400 note to oriole bank, the market interest rate at the time was 11%. the states interest rate on the note was 9%, payable annually. the note matures in 5 years. unfortunately, because of lower sales, kingbird's financial situation worsened. on December 31,2027, oriole bank determined that it was probable that the company would pay back only 710640 or the principal at maturity. however, it was considered likely that interest would continue to be paid, based on the 1184400 loan.
determine the amount of cash kingbird received from the loan on December 31,2025.

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