On July 1, 2017, Agincourt Inc. rendered services in exchange for a 4%, 8-year promissory note having a face value of $500,000 (interest payable annually). Agincourt Inc. recently had to pay 8%...

Extracted text: On July 1, 2017, Agincourt Inc. rendered services in exchange for a 4%, 8-year promissory note having a face value of $500,000 (interest payable annually). Agincourt Inc. recently had to pay 8% Interest for money that it borrowed from British National Bank. The customer of the above fransaction has credit ratings that require them to borrow money at 12% interest. The present value of 1 at 12% for 8 perlods 0.40388 The present value of an ordinary annuity 4,9676 of 1 at 12% for 8 perlods Instructions By hew much amount Ihe service revue wil be credited? (Please wite your answer without commas or sign of the doliar. For example ifyour answer is SI0.000, Swrite it 10000)