A company borrowed $50,000 cash from the bank and signed a 6-year note at 7%. the present value of an annuity for 6 years at 7% is 4.7665. the annual annuity payments equal $10,490. the present value

A company borrowed $50,000 cash from the bank and signed a 6-year note at 7%. the present value of an annuity for 6 years at 7% is 4.7665. the annual annuity payments equal $10,490. the present value of the loan is: