Branch Company, a building materials supplier, has $18, 300,000 of notes payable due April 12, 2017. At December 31, 2016, Branch signed an agreement with First Bank to borrow up to $18, 300,000 to refinance the notes on a long-term basis. The agreement specified that borrowings would not exceed 75% of the value of the collateral that Branch provided. At the date of issue of the December 31, 2016, financial statements, the value of Branch's collateral was $19, 800,000. On its December 31, 2016, balance sheet, Branch should classify the notes as follows: $18, 300,000 of long-term liabilities. $4, 575,000 long-term and $13, 725,000 current liabilities. $18, 300,000 of current liabilities. $14, 850,000 long-term and $3, 450,000 current liabilities