On January 1, 2020, Chandler Company sold goods to Flynn Company. A down payment of $200,000 was made by Flynn on January 1, 2020. In addition, Flynn signed a zero interest-bearing note requiring a payment of $200,000 annually born years. The prevailing rate of interest for this type of noto at date of issuance was 10% Information on present value tactors is as follows Period Present Value of 1 at 10% Present Value of Ordinary Annuity of 1 at 10% 4.3553 5645 5132 4.8684 $1,071,060 $973,680. $871,060 $714,000