Short Company purchased land by paying $28,000 cash on the purchase date and agreed to pay $28,000 for each of the next eight years beginning one-year from the purchase date. Short's incremental borrowing rate is 8%. On the balance sheet as of the purchase date, after the initial $28,000 payment was made, the liability reported is closest to: (FV of $1,PV of $1,FVA of $1, andPVA of $1)(Use appropriate factor(s) from the tables provided.)