Current Attempt in Progress On January 1. year 2. Connor Corporation signed a $100.000 noninterest-bearing note due in three years at a discount rate of 10% Connor elects to use the fair value option for reporting its financial liabilities. On December 31, year 2, Connor's credit rating and risk factors indicated that the rate of interest applicable to its borrowings was 9%. The present value factors at 10% and 9% are presented below. PV factor 10%, 3 periods .751 PV factor 10%, 2 periods 826 PV factor 10%, 1 period PV factor 9%, 3 periods 1772 PV factor 9%, 2 periods .842 PV factor 9%, 1 period 917 909 At what amount should Connor present the note on the December 31, year 2 balance sheet? $84.200 O $77,200 O $75,100 $82,610 Current Attempt in Progress Norton Corp. does not elect the fair value option for recording its financial liabilities. The discount resulting from the determination of a note payable's present value should be reported on its balance sheet as an) O Deferred charge separate from the note, Direct reduction from the face amount of the note. O Deferred credit separate from the note. O Addition to the face amount of the note. e Textbook and Media Attempts: 0 of 3 used Submit Answer Save for Later