On June 1, 2020, ABC LTD. provides a vendor with an $18,500 non-interest-bearing note due on June 1, 2021, in exchange for furniture with a list price of $18,100. At what amount will the property be recorded in the accounting records? The company's banker has suggested that an appropriate market rate is 12% per annum for loans that mature in one year or less and 15% for loans with longer maturities.