Harper company commonly issues long-term notes payable to its various lenders. Harper has had a pretty good credit rating such that its effective bar borrowing rate is quite low less than 8% on an annual basis. Harper has elected to use the fair value option for the long-term notes issued to Barclays Bank and has the following data related to the carrying and fair value for these notes. on December 31st, 2013 the carrying value was $81,000 and the fair value was $81,000 on December 31st 2014 the carrying value was $67,000 and the fair value was $64,000 on December 31st 2015 the carrying value was $54,000 and the fair value was $58,000. prepare the adjusting entry at December 31st Harper's year-end for 2013, 2014, in 2015 to record the fair value option for these notes. they each have two entries. next at what amount will the note be reported on Harper's 2014 balance sheet? Next what is the effect of recording the fair value option on these notes on Harper's 2015 income? Income will decrease or increase by how much?