Question: On October 1 , 2 0 2 4 , a company purchased a piece of land by agreeing to pay the seller $ 4 5

On October 1,2024, a company purchased a piece of land by agreeing to pay the seller $450,000 in two years. If the company had borrowed the money from a bank to pay the seller immediately, management estimates the bank would have required interest of 9%. Calculate the net amount of the note payable as of December 31,2024(rounded to the nearest dollar).

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