Question 23 On January 1, 20x1, Bemie Company sold land to Leahy Company. Although there was no reliable market value for the land, Leahy gave Bemies $4 million zero-interest-bearing note payable calling for 5 equal annual installments of $800,000, the first payment due December 31, 20x1. The prevailing rate of interest for a note of this type is 9% After adjusting entries are made, what should be the balance of the Notes Payable account on the books of Leahy at December 31, 20x17 O $2.591.796 $4,000,000 $3,111.721 $3,200.000