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On January 1, 2013, Brad Company sold goods to Tad Corporation. Tad Corporation signed a 5-year note with a face amount of $60,000 and a

On January 1, 2013, Brad Company sold goods to Tad Corporation. Tad

Corporation signed a 5-year note with a face amount of $60,000 and a stated interest

rate of 8%. The note pays interest annually beginning December 31, 2013. Assuming

the market interest rate is 10%, how much would Brad Company record as sales

revenue? (Round all calculations to the nearest dollar):

a. $37,255.

b. $47,263.

c. $57,270.

d. $55,451.

e. $60,000.

f. $64,800.

g. $84,000.

h. None of the above

Please show work if possible. Thank you!

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