8. On October 1, 2018, Sonoma Company leased equipment from Napa Inc. in lease payable in five equal annual payments of $500,000, beginning Oct 1, 2018. Similar transactions have carried an 11% interest rate. Sonoma Compan expects the residual value at Oct. 1, 2023 to be $30,000. Negotiations led to Napa Inc. guaranteeing a $50,000 resid value. The right-of-use asset would be recorded at: A. $2,063,094. B. $1,847,950. C. $1,859,819. D. $2,051,225 E. None of these answer choices is correct