A company borrowed cash from the bank by signing a 5 year, 9% installment note. The present value of an annuity factor at 9% for 5 years is 3.8897. Each annual payment equals $61, 701, 42. The present value of the note is: $137, 810.00. $301, 701.42. $61, 701.42 $80, 577.42 $240,000.00