Shady Equipment sells a truck to Fred for $100,000 on January 1, 2016. Payment of $100,000 is received two years later and interest is paid at the end of two years. The truck is delivered two years later. The market rate of interest is 8%.
Refer to Shady Equipment. How much sales revenue will Shady report on January 1, 2016?
A) $0.00
B) $100,000
C) $66,640
D) $50,000