A firm acquired a new truck on January 1, of the current year. The firm paid $3,000 down, and signed a three-year, $20,000 non-interest bearing note for the balance. The market rate of interest on the date of the purchase was 8%. What is the cost of the truck (rounded to the nearest dollar)? $25,200. $15,880. $28,980. $23,000. $18,880