The Walters Co

The Walters Co. has beginning long-term debt of $54,500, which is the principal balance of a loan payable to Centre Bank. During the year, the company paid a total of $16,300 to the bank, including $4,100 of interest. The company also borrowed $11,000. What is the value of the ending long-term debt?

A) $45,100
B) $53,300
C) $58,200
D) $65,500
E) $85,900