BBB Leasing purchased a machine for $400,000 and leased it to Jack Tupp Auto Repair on January 1, 2021. Lease description: Quarterly rental payments $24,506 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 Fair value of asset $400,000 99 What is the balance in the lease payable account after the April 1, 2021, lease payment? Multiple Choice $375,494 $519,493 $359.437 $391,551