74. On December 31,2025, Kuhn Corporation leased a plane from Bell Company for a seven- year period expiring December 31, 2032. Equal annual payments of $450,000 are due on December 31 of each year, beginning with December 31, 2025. The lease is properly classified as a finance lease on Kuhn's books. The present value at December 31,2025 of the eight lease payments over the lease term discounted at 10% is $2,640,789. Assuming the first payment is made on time, the amount that should be reported by Kuhn Corporation as the lease liability on its December 31, 2025 balance sheet is