Cullumber guarantees a residual value of $10,000 at the end of the lease term. What if the expected residual value at the end of the lease term is $7,000 and Cullumber guarantees a residual of $10,000? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to O decimal places, e.g. 5,275.) What amount will Cullumber record as its lease liability on December 31, 2024, if its incremental borrowing rate is 4% and the implicit rate of the lease is unknown? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to O decimal places, e.g. 5,275.)