Question: please answer with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation. On January 1, 2024,

please answer with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation.

On January 1, 2024, Wildhorse Company issued for cash a $1,220,000, 3-year note bearing annual interest at 8% to Indigo, Inc. The market rate of interest for a note of similar risk is 96. What cash would have been recorded on the issue date of the note? (Round present value factor calculations to 5 decimal places, e.g. 125124 and the final answer to O decimal places eg. 58,971.) Click here to view factor table Total Proceeds

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