Believe, Inc. has a calendar year end. On January 25, 2017 while preparing the 2016 financial statements, Believe, Inc. refinanced a $2 million, 30-year term note payable, which was due on March 31st, 2017. The new note has a 20-year term. In the December 31st, 2016 balance sheet, how should the $2 million debt be classified?
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