Ivanhoe Cosmetics Co. purchased equipment on December 31, 2023, paying $51,800 down and agreeing to pay the balance in four equal instalments of $44,500 payable each December 31 . An assumed interest of 6% is implicit in the purchase price. Sabonis has a March 31 year end. factor table PRESENT VALUE OF 1. factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) Using (1) factor tables, (2) a financial calculator or (3) Excel function PV, calculate the amount to be recorded to the note payable account. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,275.)