Crane, Inc. leased equipment from Swifty Company under a four-year lease requiring equal annual payments of $224152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4year useful life and no salvage value. If Crane, Inc.'s incremental borrowing rate is 11% and the rate implicit in the lease (which is known by Crane, Inc.) is 9%, what is the amount recorded for the leased asset at the lease inception? $771914$695420$791546$726190