01. When a long-term note is given in exchange for equipment, the cost of the equipment is: Select one: O a. The present value of note payments discounted at the market rate. O b. The invoice price OcThe wholesale price od. The present value of the note payments discounted at the stated rate. 02. On January 1, 2020, Tackon Corporation owed Second State Bank $700,000, under a 10% note with two years remaining to maturity. Due to financial difficulties, Tackon waslunable to pay the previous year's interest. Second State Bank agreed to the following terms: 1) Eliminate the accrued interest of last year. 2) Reduce the remaining two interest payments from $70,000 each to $35,000 each. 3) Reduce the maturity value from $700,000 to $500,000, What is the amount of gain Tackon would recognize on 1/1/2020 from this troubled debt restructuring? Select one: a $50,000 O b. $200,000 Oc. $150,000 O d. Cannot be determined