On December $31,2020,$ Sparky Consulting Inc., received two notes from customers in exchange for services rendered.

The first note from Desert Corp. is a two$-$year, $$10,000$ note with a $4\%$ stated rate. Interest is due each December $31$ beginning December $31,2021,$ and principal is due December $31,2022.$

The second note is a two$-$year, noninterest$-$bearing note with a face value of $$7,000$ from Tucson Inc. Principal and interest will be paid at maturity.

The market rate for similar notes from both customers is $8\%$ on December $31,2020.$

$\backslash$table$[[$PV of $$1,4\%,8\%,$PVOA,$4\%,8\%$