A company borrowed cash from the bank by signing a 4-year, 8% installment note. The present value for an annuity (series of payments) at 8% for 4 years is 3.3121. The present value of 1 (single sum) at 8% for 4 years is 7350. Each annual payment equals $77,000. The present value of the note is: Multiple Choice $23 248.09 $308,000.00 $104.761.90. $255,03170 $69,744.27