Detailed calculations please..

Entity L enters into a lease for 10 years, with a single lease payment payable at the beginning of each year. The initial lease payment is Rs. 100,000. Lease payments will increase by the rate of LIBOR each year. At the date of commencement of the lease, LIBOR is 2 per cent. Assume that the interest rate implicit in the lease is 5 per cent. How lease liability is initially measured