Ruffin Dog Supplies issued a $60,000, four-year note payable to Dozier Resources in exchange for cash. The note was issued at 8%, but notes with similar risk have an interest rate of 6 percent. Ruffin is expected to make four annual interest payments of $4,800 with one lump-sum payment for the principal at the end of Year 4. How much cash will Ruffin receive on the date the note was issued