President Company purchased merchandise from Captain Corporation on September $30,2024.$ Payment was made in the form of a noninterest$-$bearing note requiring President to make six annual payments of $$5,000$ on each September $30,$ beginning on September $30,2027.$

Required:

Calculate the amount at which President should record the note payable and corresponding purchase on September $30,2024,$ assuming that an interest rate of $10\%$ properly reflects the time value of money in this situation.