Ask On December 31, 20XO, Ace signs a four-year lease to use a truck. The truck has a present value of $58,600 Four annual payments of $10,000 will be paid with the first due on December 31, 20X0. After that time, the truck (with an expected useful life of eight years) will be returned to the landlord. Ace has an incremental borrowing rate of 6 percent. The present value of a four-year $10,000 annuity payable at an annual rate of 6 percent is $36,700. The landlord has an implicit annual interest rate of 8 percent built into the contract. Ace is aware of this implicit rate. The present value of a four-year annuity owed of $10,000 at an annual rate of 8 percent is $35,770. What liability must Ace disclose on its balance sheet at December 31, 20X0? Or $25,770 Or $0 Or $10,000 Or $26,700