On January 1, 2024, The Barrel Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring five annual payments of $39,000 on each December 31 beginning on December 31,2024 , and a lump-sum payment of $290,000 on December 31, 2028. A 10\% interest rate properly reflects the time value of money in this situation. Required: Calculate the amount at which Barrel should record the note payable and corresponding merchandise purchased on January 1.2024. Note: Round your final answers to neorest whole dollar amount. Use tobles, Excel, or a financial calculator. (FV of \$1. PV of S1. EVA of \$1. PVA of S1. EVAD of \$1 and PVAD of \$1)