In January 2013, the company issued a $30 million note to a syndicate of banks in connection with a seven-year term loan that bears a fixed 4.25 percent interest rate. The loan is secured by the company's assets and subject to financial and other covenants, including a requirement that the company maintain a total debt ratio not exceeding 1.5:1 (or 1.50).
Compute the current fair value of the bank note syndicated in 2013, showing separately to the nearest whole $US dollar (1) the present value of the principal (face) amount of the note and (2) the present value of related interest payments due under the note.