On January 1, 2024, The Bartel Company purchased incrchandlse trom a suppler. Payment was a noninterest beating note requiring five annual payments of $25,000 on each December 3 t bedianino on Decenibet 31,2024 , and a lump sum payment of $150,000 on December 31, 2028 A 105 interest rate properly reflects the timo walue of money in this situation. Required: Calcubate the amount at which Barrei should record the note poyable and corresponding merchandise purchased on January 1,2024