On January 1, 2024, Byner Company purchased a used tractor. Byner paid $4,000 down and signed a noninterest-bearing note requiring $28,000 to be paid on December 31, 2026. The fair value of the tractor is not determinable. An interest rate of 12% properly reflects the time value of money for this type of loan agreement. The companys fiscal year-end is December 31. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1,