Blue Corp. was experiencing cash flow problems and was unable to pay its $ $108,000$ account payable to Bramble Corp. when it fell due on September $30,2023.$ Bramble agreed to substitute a one$-$year note for the open account. The following two options were presented to Blue by Bramble:Option $1$:A one$-$year note for $$108,000$ due September $30,2024,$ Interest at a rate of $9\%$ would be payable atmaturity.Option $2$:A one$-$year non$-$interest$-$bearing note for $$117,720.$ The implied rate of interest is $9\%$Assume that Bramble has a December $31$ year end.