Omar acquired equipment from the manufacturer on 6/30/2024 and gave a noninterest-bearing note in exchange. Omar is obligated to pay $558,000 on 4/30/2025 to satisfy the obligation in full.

If Omar accrued interest of $18,000 on the note in its 2024 year-end financial statements, what amount would it have recorded the equipment for on 6/30/2024?

A.) $498,000

B.) $528,000

C.) $516,000

D.) $558,000