Question 1 (3.75 points) On May 1, 2020, SMC Inc. purchased a photocopier listed for $2,900. The office supply store agreed to accept a $800 down payment and a $2,100, three-year note payable, with three equal payments of $798 per year. If SMC borrowed this from the bank, the loan would carry 14% interest. What should be the initial amount of the note payable recorded in the accounting system, rounded to the nearest dollar? $2,394 $1,853 $2,100 $2,653