Use the "QUESTION INFORMATION" below to answer the next $2$ questions $[$Questions $29-30].$ Blank amortization tables and present value tables are available in your scratch paper packet.

QUESTION INFORMATION: On January $1,2023,$ a company issued a $3$year installment note. The installment note has a face value of $$50,000,$ an interest rate of $11\%,$ and payments are made annually on December $31.$

QUESTION TO ANSWER: Rounded to the nearest dollar, the total cash paid by the company $($principal plus interest$)$ over the $3-$year borrowing is $$.$

$$ $$50,000$

$$55,500$

$$68,382$

$$61,382$

$$66,500$