Buffalo Company manufactures a check-in kiosk with an estimated economic life of 10 years and leases it to Carla Chicken for a period of 9 years. The normal selling price of the equipment is $167,103, and its unguaranteed residual value at the end of the lease term is estimated to be $24,200. Carla will pay annual payments of $20,300 at the beginning of each year. Buffalo incurred costs of $145,800 in manufacturing the equipment and $2,300 in sales commissions in closing the lease. Buffalo has determined that the collectibility of the lease payments is probable and that the implicit interest rate is 5%. Carla Chicken has an incremental borrowing rate of 5%. The lessor's implicit rate is unknown to the lessee. Click here to view factor tables. (a) Discuss the nature of this lease in relation to the lessee. This is a Compute the amount of the initial lease liability. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to O decimal places e.g. 58,971.) The amount of the initial lease liability $ $