On June $30,2024,$ Countryside Farms purchased custom$-$made harvesting equipment from a local producer. In payment; Countryside signed a noninterest$-$bearing note requiring the payment of $$77,000$ in two years. The fair value of the equipment is not known, but an $6\%$ interest rate properly reflects the time value of money for this type of loan agreement.

At what amount will Countryside initially value the equipment?

How much interest expense will Country$$ide recognize in its income statement for this note for the year ended December $31,2024?$ Note: Use appropriate factor$($s$)$ from the tables provided. Round your answers to the nearest dollar value. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Answer is complete but not entirely correct.

$\backslash$table$[[$Table or calculator function: :$,$PV of $$1,,],[$Future Value,,$$,77,000],[,,,],[,n=,2,],[,i=,6,\%$