Alex Industries purchased property by paying $$40,000$ cash on the purchase date and agreeing to pay $$40,000$ for each of the next ten years beginning one$-$year from the purchase date. Alex's incremental borrowing rate is $13\%.$ The property reported on the balance sheet is closest to: $($FV of $$1,PV$ of $$1.$ FVA of $$1,$ and PVA of $$1)$

Note: Use the appropriate factor$($s$)$ from the tables provided.

Multiple Choice

$$117,824.$

$$157,824.$

$$257,050.$

$$440,000.$