n January 1, Suffolk Agency, Inc., a nongovernmental not-for-profit organization, received $20,000 and an unconditional pledge of $20,000 for each of the next four calendar years to be paid on the last day of each year. The present value of an ordinary annuity for four years at a constant interest rate of 7 percent is 3.387. What amount of net assets with donor restrictions is reported in the year the pledge was received? Select one: a. $100,000 b. $67,740 c. $132,480 d. $28,324