Consider the following information about a lease contract:

Lease type: Finance lease. Annual lease payments: $100,000 are payable at the beginning of each year. Lease term: 8 years. Lessors and lessees interest rate: 12%. Guaranteed residual value by the lessee: $60,000. Estimated residual value at the end of the lease term: $40,000.

Determine the lessees Lease Payable.

	a.	560,415
	b.	0
	c.	580,609
	d.	None of the answers.
	e.	564,454