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 annual payments of $6,000 on each September 30beginning 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 12% properly reflects the time value of money in this situation Note: Use tables, Excel, or financial calculatorRound your final answers to nearest whole dollar amountRound your intermediate calculations to the nearest whole dollarFV of 1PV of 1EVA of PVA of 1FVAD of 1 and PVAD of 1 Amount recorded