On January $1,2024,$ a company acquired land for $$9\mathrm{.}0$ million. The company paid $$2\mathrm{.}6$ million in cash and signed a $6\%$ note requiring the company to pay the remaining $$6\mathrm{.}4$ million plus interest on December $31,2025.$ An interest rate of $6\%$ properly reflects the time value of money for this type of loan agreement. For what amount should the company record the purchase of land?

Multiple Choice

$$6\mathrm{.}4$ million

$$9\mathrm{.}6$ million

$$8\mathrm{.}4$ million

$$9\mathrm{.}0$ million