Straight Industries purchased a large piece of equipment from Curvy Company on January 1, 2016. Straight Industries signed a note, agreeing to pay Curvy Company $400,000 for the equipment on December 31, 2018. The market rate of interest for similar notes was 8%. The present value of $400,000 discounted at 8% for three years was $317,520. On January 1, 2016, Straight Industries recorded the purchase with a debit to equipment for $317,520 and a credit to notes payable for $317,520 On Straight Industries' balance sheet for the year ended December 31, 2016, the book value of the liability for notes payable, including accrued interest would be closest to: Select one: A. $349,520. B. $347,213. C. $342,922. D. $345,013