On December $31,2025.$ American Bank enters into a debt restructuring agreement with Whispering Company, which is now experiencing financial trouble. The bank agrees to restructure a $12\%,$ Issued at par, $$3,540\mathrm{.}000$ note receivable by the following modifications:

$1.$ Reducing the principal obligation from $$3\mathrm{.}540,000$ to $$2,832,000,$

$2.$ Extending the maturity date from December $31,2025,$ to January $1,2029.$

$3.$ Reducing the interest rate from $12\%$ $10\%.$

Whispering pays interest at the end of each year, On January $1,2029,$ Whispering Company pays $$2,832\mathrm{.}000$ in cash to American Bank