On January 1, a 3-Year, $8,000, Non-Interest-Bearing Note Payable Was

Multiple Choice

On January 1, a 3-year, $8,000, non-interest-bearing note payable was issued when the market rate of interest was 11%. To determine the amount at which the note will be valued on the balance sheet on the issue date, use the

A) present value of $1 table.
B) future value of an annuity due table.
C) present value of an annuity table.
D) future value of an annuity table.