MM-10 On January 1, 2016, Ken Company sold a machine to Burns Company. Burns LO M.S signed a non-interest-bearing note requiring payment of $30,000 annually for 1 LO M.10 years. The first payment was made on January 1, 2016. The prevailing rate of interest for this type of note at the date of issuance was 10%. Information on present value factors is as follows: Present Value of an Present Value Periods Ordinary Annuity of of $1 at 10% $1 and 10% 6 0.56 4.36 7 0.51 4.87 Ken should record the sale in January 2016 at: a. $107.100 b. $130.800 c. $146.100 d. $160.800