On January $1,20$X$1,$ Wade Crimbring, Inc., a dealer in used manufacturing equipment, sold a CNC milling machine to Fletcher Bros., a new business that plans to fabricate utility trailers. To conserve cash, Fletcher paid for the machine by issuing a $$200,000$ note, payable in five years. Interest at $5\%$ is payable annually with the first payment due on December $31,20$X$1.$ The going rate for loans of this type is $10\%.$ Use the PV of $1,$ PVAD of $1,$ and PVOA of $1$ tables where appropriate. $($Use the appropriate factors$)$ from the tablesprovided.$)$Required:$1-$a$.$ What is the total present value of the note for Crimbring's sale of the machine on January $1,20$X$1?1-$b$.$ Prepare the entry that Crimbring would make for the sale of the machine$\mathrm{.}2.$ Prepare the entry that Crimbring would make on December $31,20$X$1,$ to record the receipt of the first interest payment. $4.$ Assume that Crimbring opted to carry this note at its fair value. What should be the value of the note on Crimbring's December