At December $31,2011,$ Newman Engineering$$s liabilities include the following $$10$ million of $9\%$ bonds, issued for $$10$ million on May $31,1988.$ The bonds mature on May $31,2022,$ but bondholders have the option of calling $($demanding payment on$)$ the bonds on May $31,2012.$ However, the option to call is not expected to be exercised, given prevailing market conditions. The liability should be reported in the December $31,2011$ balance sheet as