On July $1,2024,$ a company acquired equipment. The company paid $$160,000$ in cash on July $1,2024,$ and signed a $$640,000$ noninterest$-$bearing note for the remaining balance which is due on July $1,2025.$ An interest rate of $5\%$ reflects the time value of money for this type of loan agreement. $($PV of $$1,$ PVA of $$1)$

For what amount will the company record the purchase of equipment?

Group of answer choices

$$761,905$

$$769,523$

$$609,523$

$$800,000$