(c) X Your answer is incorrect. Suppose that in addition to the $67,199 annual rental payments, Kimberly-Clark is also required to pay $5,000 for insurance costs each year on the building directly to the lessor, Sheffield Storage. How would this executory cost affect the initial measurement of the lease liability and right-of-use asset? (Round answer to O decimal places, e.g. 5,275.) Lease liability to 526,646Assume that on December 31, 2019, Kimberly-Clark Corp. signs a 10-year, noncancelable lease agreement to lease a storage building from Shefeld Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $67,199 beginning on December 31, 2019. 2. The fair value of the building on December 31, 2019 is $491,847. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $10,500, and an expected residual value of $7,400. Kimberly-Clark depreciates similar buildings on the straight-line method. 4. The lease is nonrenewable. At the termination ofthe lease, the building reverts to the lessor. 5. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. Click here to view factor ta bles. {For calculation purposes, use 5 decimal places as displayed in the factor table provided.)