Chase Rice 'Cried a Lot' While Writing Track on Upcoming Album: It's the 'Best Song I've Ever Done'

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Editor's Note: This story includes graphic details of a suicide attempt.

As a songwriter and performer, Chase Rice has three No. 1 songs to his name, but the "best song" he's ever written will be released early next year.

"Bench Seat," which is about Rice's college friend and his dog, is also the heaviest and most emotional song he's ever written.

"My best friend in college almost shot himself in the head," Rice, 37, told PEOPLE exclusively while attending the iHeartRadio Music Festival on Saturday. "His dog ended up kind of saving his life. He had the gun to his head and he looked down at the dog. The dog did the head tilt and like looked at him like, 'What you doing?' "

The friend — who threw the gun down and eventually got help, and is doing well now — prompted Rice to write "Bench Seat" just three days after he confided in the country musician.

"I cried a lot on that one. I remember starting to write it and I just stood up and walked out of the room," Rice recalled. "I knew I wanted to write it, but I didn't think it would hit that quick."

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According to Rice, the unnamed friend has heard the song, which is set for a January or February release.

"He cried when he heard it, and it's the best song I've ever done," Rice said. "I cried a lot that day."

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And while Rice gets emotional about "Bench Seat," he is giddy about his upcoming album, which he calls "unbelievably good."

"This next album is above and beyond anything I've ever done," he said. "I know people say that all the time, but this one's legit. Like, I'm listening to it driving down the road because I want to hear these songs."

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Rice largely shied away from his new material while performing at the iHeartRadio Music Festival on Saturday, but that's not to say he didn't have a great time.

"I was slinging beers and didn't hit anybody in the face," he shared with a laugh. "Avril Lavigne played earlier. I didn't ever think that I'd be doing a show with Avril Lavigne."

If you or someone you know is struggling with substance abuse, please contact the SAMHSA helpline at 1-800-662-HELP.