Computing Lease Liability Lessee Company enters into a 6 -year finance lease of non-specialized equipment with Lessor Compary on january 1. Lessee has agreed to pay 567,200 annually beginning immediately on January 1. The lessor estimates the residual value of the equipment to be $12,000 at lease end, but the lessee has not guaranteed the residial value. The economic life of the asset is 7 years. The lessee's incremental borrowing rate is 7% and the lessor's implicit rate is not readily determinable by the lessee company. What is the value of the lease liability on jaruary 1, assuming that the lease is properly classified as a finance iease? Note: Round your answer to the nearest whole doliar