On January 1,2024, The Barre Company purchased merchandise from a supplier. Payment was a noninterest-bearing note requiring: five annual poyments of $40,000 on each December 31 beginning on December 31,2024 , and a lump-sum payment of $300,000 on December 31,2028 A 9% interest rate properly reflects the time value of money in this situation Requited: 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 nearest whole dollar amount. Use tables, Excel, or a financial calculator. (EV of S1, PV of S1. EVA of S1. PVA of S1. EVAD of S1 and PVAD of S1]