The Following Information Applies to the Next Three Questions

Multiple Choice

The following information applies to the next three questions:
A private foundation made a multi-year pledge to a private college on December 31, 2013, the last day of the fiscal year. The pledge was to pay $12,000 per year each year for five years, beginning on December 31, 2014. The discount rate is 6%. The present value of five payments of $12,000 is $50,548. The present value of four payments of $12,000 is $41,581. No purpose or plant restrictions were involved.
-As of December 31,2013,the contribution revenue would be classified as:

A) Unrestricted.
B) Temporarily restricted.
C) Permanently restricted
D) None of the above.