On January 1, 2019 Tracey Sisters Company borrowed $90,000 cash by signing an 8 year, 7% mortgage note that requires equal total payments on December 31 of each year. The balance in the Mortgage Note Payable account after the first payment is made is:

Select one:

A. $81,228

B. $83,700

C. $78,750

D. $79,017