On July 1, 2021, Markwell Company acquired equipment. Markwell paid $205,000 in cash on July 1, 2021, and signed a $820,000 noninterest-bearing note for the remaining balance which is due on July 1, 2022. An interest rate of 5% reflects the time value of money for this type of loan agreement. ( PV of $1, PVA of $1) (Use appropriate factor(s) from the tables provided.) For what amount will Markwell record the purchase of equipment? 2:31 Multiple Choice $978,334. $985,952 $885,952 $1,025,000