Tree Inc. has a $300 million. 10-year note that is payable in annual installments of $30 million. How should Bear Inc. report the note payable on its current-year Balance Sheet?

a. Need more information

b. $300 million current liability

c. $300 million long-term liability

d. $270 million current liability and $30 million long-term liability

c. $30 million current liability and $270 million long-term liability