On January 1, a 3-Year, $10,000 Non-Interest-Bearing Note Payable Was

Short Answer

On January 1, a 3-year, $10,000 non-interest-bearing note payable was issued for $7,938 when the market rate of interest was 8%. Interest expense is recognized using the effective interest method. Calculate the balance sheet value of the note a year after its issuance. Round your final answer to the nearest dollar.