BBB Leasing purchased a machine for $250,000 and leased it to Jack Tupp Auto Repair on January 1, 2018.

Lease description:
Quarterly rental payments	$16,315 at beginning of each period
Lease term	5 years (20 quarters)
No residual value; no BPO
Economic life of machine	5 years
Implicit interest rate	12%
Fair value of asset	$250,000

What is the balance in the lease payable account after the April 1, 2018, lease payment?