Crimson City borrows $3,000,000 to build a new addition for city hall. During the year, they constructed the new addition spending $3,250,000. During the year, Crimson City paid $200,000 for the principal and $20,000 for interest which was all the interest payable for the year. What will be the balance of the debt on the governmentwide statement of financial position (balance sheet) as of year end? $2,800,000 0 $200,000 $3,000,000