On January 1,2016,Brubeck Company Purchased Equipment and Signed a Six-Year

On January 1,2016,Brubeck Company purchased equipment and signed a six-year mortgage note for $110,000 at 15%.The note will be paid in equal annual installments of $29,066,beginning January 1,2017.Calculate the balance of Mortgage Payable after the payment of the first installment.(Round your answer to the nearest whole number. )

A) $16,500
B) $80,934
C) $97,434
D) $82,983