(C Use the following information for questions from 22 to 25. Titans and CalBank aceed on a three-years lending contract on January 1, 2015. Titans received cash from CalBank by providing 001000 note due on December 31, 2017. The note is bearing interest at 8% annually, with interest payable each fiscal year-end. Titans' are somewhat of a credit risk and typically borrow funds at a (market interest) rate of 12%. * Rounding to the nearest dollar. * Present value calculation can vary depending on what you use. Please mark the closest answer when you find a difference (less than 10 dollars value) between your calculation and the choices. PV Factor of $1, PVF(i,n). Period 5% 8% 12% PV Factor of an (ordinary) annuity of $1, PVF- OA (i,n). Period 5% 8% 12% 1 0.95238 0.92593 0.89286 1 0.95238 0.92593 0.89286 2 0.90703 0.85734 0.79719 2 1.85941 1.78326 1.69005 3 0.86384 0.79383 3 2.72325 2.57710 2.40183 4 0.8227 0.73503 0.71178 0.63552 0.56743 4 3.54595 3.31213 3.03735 5 0.78353 0.68058 5 4.32948 3.99271 3.60478 22. The Note is issued by Titans at: Select one: O a. par value O b. premium O c. discount O d. There is not enough information to