estion 30 ot yet swered ints out of Remove flag Pisa, Inc. leased equipment from Tower Company under a four-year lease requiring equal annual payments of $344,152, 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 4 year useful life and no salvage value. Pisa, Inc.'s incremental borrowing rate and the rate implicit in the lease (which is known by Pisa, Inc.) is 8%. Assuming that this lease is properly classified as a finance lease, what is the amount of Lease Liability reduction recorded in first year after the lease inception? Previous page 8%, 4 periods: PV Annuity Due = 3.57710 PV Ordinary Annuity=3.31213 Select one: OA. $252,960 B. $245,666 OC. $273,199 OD. $344,152 Next page