Short Company Purchased Land by Paying $10,000 Cash on the Purchase

Short Company purchased land by paying $10,000 cash on the purchase date and agreeing to pay $10,000 for each of the next ten years beginning one-year from the purchase date.Short's incremental borrowing rate is 10%.What amount of liability would be reported on the balance sheet as of the purchase date,after the initial $10,000 payment was made?

A) $100,000
B) $38,550
C) $61,446
D) $71,446