Current Attempt in Progress On December 31, 2021. Wildhorse, Inc. leased machinery with a fair value of $1425000 from Cey Rentals Co. The agreement is a 6-year noncancelable lease requiring annual payments of $270000 beginning December 31, 2021. The lease is appropriately accounted for by Wildhorse as a finance lease. Wildhorse's incremental borrowing rate is 1196. Wildhorse knows the interest rate implicit in the lease payments is 10%. The present value of an annuity due of 1 for 6 years at 10% is 4.7908. The present value of an annuity due of 1 for 6 years at 11% is 4.69590. Inits December 31, 2021 balance sheet, Wildhorse should report a lease liability of $1293516. O $1023516. $1155000. $1267893