On December 1, 2016 fine dining products borrowed $88000 on a 11%, 8 note with annual installment payments of $11000 plus interest due on December 1 of each succeeding year. On December 1 the principal amount was recorded as a long term not payable. What amount of the note payable will be shown as current portion of Long term Note Payable on the balance sheet as of December 31, 2016?

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