At January 1, 2022, Tinker Company leased restaurant equipment from Arby Corporation under a five-year lease agreement in a finance lease. The lease agreement specifies annual payments of $40,000 beginning January 1, 2022, the beginning of the lease, and at each December 31 thereafter through 2025. The equipment was acquired recently by Arby and was expected to have a useful life of six years with no salvage value at the end of its life. Arby seeks a 6% return on its lease investments. The amount of lease liability reported on December 31, 2022 balance sheet by Tinker would be: Present Value of Ordinary Annuity of Present Value of Annuity Due of $1 $1 Period 5 3% 6% 4.57971 4.21236 7% 8% 3% 4.10020 3.99271 4.71710 6 5.41719 4.91732 6% 7% 8% 4.46511 4.38721 4.31213 4.76654 4.62288 5.57971 5.21236 5.10020 4.99271 $109,320 $96,204 O $106,920 O $100,275