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millco borrowed $400,000 on 1/1/20x1 to be repaid in four annual $100,000 payments beginning on 1/1/20x2 (and each january 1 to follow until repaid). in addition to the $100,000, each payment will also include accrued interest at 8%/year. on the 12/31/20x1 balance sheet, what is the total dollar amount of current liabilities associated with this borrowing?

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