Jules Company purchased equipment by paying $10,000 cash on the purchase date and agreeing to pay an additional $100,000 comprised of $10,000 annual payments for each of the next ten years beginning one-year from the purchase date. Jules's incremental borrowing rate is 8%. (Use the appropriate factor(s) as provided.) Time Period Interest PV of $1 PV of a $1 Annuity 10 8% 0.4632 6.7101 On the balance sheet as of the purchase date, after the initial $10,000 payment was made, the liability reported is closest to: O A. $100,000 OB. $67,101 O C. $46,320 OD. $77,101