Present and future values of $1$ at $11\%$ are presented below.

PV of $$1$ FV of $$1$ PVA of $$1$ FVA of $$1$

$10\mathrm{.}900901\mathrm{.}110000\mathrm{.}900901\mathrm{.}0000$

$20\mathrm{.}811621\mathrm{.}232101\mathrm{.}712522\mathrm{.}1100$

$30\mathrm{.}731191\mathrm{.}367632\mathrm{.}443713\mathrm{.}3421$

$40\mathrm{.}658731\mathrm{.}518073\mathrm{.}102454\mathrm{.}7097$

$50\mathrm{.}593451\mathrm{.}685063\mathrm{.}695906\mathrm{.}2278$

$60\mathrm{.}534641\mathrm{.}870414\mathrm{.}230547\mathrm{.}9129$

Polo Publishers purchased a multi$-$color offset press with terms of $$85,000$ to be paid at the date of purchase, and a noninterest$-$bearing note requiring payment of $$70,000$ at the end of each year for six years. The interest rate implicit in the purchase contract is $11\%.$ Polo would record the asset at: