Madison Company issued an interest$-$bearing note payable with a face value of $$7,200$ and a stated interest rate of $8\%$ to Metropolitan Bank on August $1,$ Year $1.$ The note carried a one$-$year term.

Based on this information alone, what is the amount of total liabilities appearing on Madison's balance sheet as of December $31,$ Year $1?$

Multiple Choice

$$7,200$

$$7,536$

$$7,776$

$$7,440$