Cathy Company purchased a machine on January 1, 2021. Cathy signed a note payable promising to make a one-time payment of $150,000 at the end of four years (on December 31, 2024). Assume a compound interest rate of 12%.. Period Present Value of $1 at 12% Present Value of $1 Annuity at 12% 1 0.89 2 0.80 3 0.71 4 0.64 0.89 1.69 2.40 3.04 At what amount will this note payable appear on Cathy's balance sheet at December 31, 2022 (the end of the second year)? Round all numbers to the nearest dollar. $168,000 $96,000 $150,000 $80,282 $120,422