On January 1, 2021. The Barrett Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring five annual payments of $27,000 on each December 31 beginning on December 31,2021 , and a lump-sum payment of $170,000 on December 31, 2025 . A 9% interest rate properly reflects the time value of money in this situation. ((FV of \$1. PV of \$1. EVA of \$1. PVA of \$1. EVAD of S1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1.2021. (Round your final answer to nearest whole dollar amount.)