On May 1,2014,SBC INC

On May 1,2014,SBC INC.buys a photocopier listed for $2,600.The office supply store agrees to accept a $800 down payment and a $2,100,three-year note payable at $798 per year.The company's banker has suggested that an appropriate market rate is 11% per annum for loans that mature in one year or less and 14% for loans with longer maturities.At what amount will the note be recorded at in the accounting records?

A) $1,853
B) $1,950
C) $2,100
D) $2,600