I need the discount on notes payable & and the intrest expense for 2024, 2025. Also the liability amount for 2024, 2025. please

On January 1, 2024. Byner Company purchased a used tractor. Byner paid $9.000 down and signed a noninterest-bearing note requining $35.000 to be paid on December 31, 2026. The fair value of the tractor is not deferminable. An interest rate of 12% properly reflects the time value of money for this type of loan agreement. The company's fiscal year-end is December 31. Note: Use tables, Excel, or a financial calculator. (FV of \$1. PV of \$1, EVA of S1. PVA of \$1. FVAD of S1 and PVAD of \$1) Required: 1. Prepare the journal entry to record the acquisition of the tractor. 2. How much interest expense will the company include in its 2024 and 2025 income statements for this note? 3. What is the amount of the liability the company will report in its 2024 and 2025 balance sheets for this note? Complete this question by entering your answers in the tabs below. 2. How much interest expeniee will the company include in its 2024 and 2025 income statements for this note? 3. What is the amount of the flability the company will report in its 2024 and 2025 balance sheets for this note? Nore: Do hint round intermediate calculations, Round your anmwers to the nearest whole dollars. Bechmiser s. Pienulreder