Dusty Company recently rendered services to Chaps Inc. in exchange for a 2%, 4-year promissory note having a face value of $50,000 (interest payable annually). Dusty Co. recently had to pay 6% interest on a new loan from the bank. Chaps Inc. has a credit rating that requires the company to borrow at 9%. What amount should Dusty record as services revenue?

$50,000

$43,070

$35,421

$38,661

None of these are correct