Venus Ltd.secured a $750,000, five year, 8% note payable on January 1. The loan will be repaid using blended monthly payments with a fixed monthly principal payment of $12,500. Which of the following represents how the loan will be reflected on the balance sheet at the end of the first year?

A) Long term liabilities -- note payable: $750,000

B) Current portion of long term debt: $ 150,000, Long term liabilities -- note payable: $450,000

C) Current portion of long term debt: $300,000, Long term liabilities -- note payable: $ 450,000

D) Current portion of long term debt: $600,000

(plz give a detailed response on the calculation of the note payable, thank you!)