On December 31, 2014, William Company provided services to a customer. In exchange, they accepted $5,000 in cash plus a note receivable with a face value of $225,000, a due date of December 31, 2016, and a stated rate of 3%, with interest paid December 31 of each year beginning December 31, 2015. Under the circumstances, the note is considered to have an appropriate rate of interest of 4%. 2 years duration: 3% 4% Present Value Single Sum 0.9426 0.92456 Present Value Ordinary 1.91347 1.88609 Annuity Present Value Annuity Due 1.97087 1.96154 Future Value Single Sum 1.0609 1.0816 Future Value Ordinary Annuity 2.03 2.04 Future Value Annuity Due 2.0909 2.1216