Sterling Inc. has two long$-$term notes outstanding. One is a $5-$year note for $$50,000.$ An equal amount of principal must be repaid each year of the loan. The other is a $7-$year note for $$210,000.$ In the next calendar year, the company will pay $$21,000$ of the principal. What is total amount of the notes that will be reported as current liabilities on its balance sheet? a$.$ $$40,000$ b$.$ $$229,000$ c$.$ $$71,000$ d$.$ $$31,000$