On November 1, 2024, A-1 Products borrowed $54,000 on an 11%, 5-year note with annual installment payments of $10,800 plus interest due on November 1 of each succeeding year. On November 1, 2026, after the installment payment is made, what is the balance of the Long-Term Notes Payable account? (Round your answer to the nearest dollar.)
A. $43,200
B. $10,800
C. $32,400
D. $54,000