At January $1,2024,$ Sunny Company leased restaurant equipment from Central Corporation under a five$-$year lease agreement in a finance lease. The lease agreement specifies annual payments of $$60,000$ beginning January $1,2024,$ the beginning of the lease, and at each December $31$ thereafter through $2027.$ The equipment was acquired recently by Central and was expected to have a useful life of six years with no salvage value at the end of its life. Central seeks a $3\%$ return on its lease investments. The amount of lease liability reported on December $31,2024$ balance sheet by Sunny would be: