Butter Ltd entered a finance lease on 1 July 2023 to lease a piece of moulding equipment. The present value at the inception of the lease is $290,700. The annual lease payment of $35,000 is due on 30 June 2024. The implicit interest rate for the lease is 12%. Calculate the amount of current finance lease liability at the end of 30 June 2024.

Group of answer choices

$195,384

$11,554

$24,684

$10,316