Pn January $1,2020,$ Hat Trick Manufacturing exchanged some equipment for a $$750,000$ zero$-$interest$-$bearing note due on January

$1,2023.$ The prevailing rate of interest for a note of this type at January $1,2020$ was $10\%.$ The present value of $$1$ at $10\%$ for three

periods is $0\mathrm{.}75.$ Hat Trick Manufacturing included

as interest revenue on the $2021$ income statement.

$$60,469$

$$0$

$$56,250$

$$61,875$