Francisco leased equipment from Julio on December 31, 2021. The lease is a 10-year lease with annual payments of $152,000 due on December 31 of each year beginning December 31, 2021. The present value of the lease payments is $961,894. Francisco's incremental borrowing rate is 14% for this type of lease. The implicit rate of 12% is known by the lessee. What should be the balance in Francisco lease liability at December 31, 2022? Multiple Choice O $755081 O $761591 $809.894 o oo SMO On January 1, 2021, Packard Corporation leased equipment to Hewitt Company. The lease term is 10 years. The first payment of $456,000 was made on January 1 2021 Remaining payments are made on December 31 each year, beginning with December 31, 2021. The equipment cost Packard Corporation $3.051.294. The present value of the lease payments is $3,082,115. The lease is appropriately classified as a sales type lease. Assuming the interest rate for this lease is 10%, what will be the balance reported as a liability by Hewitt in the December 31, 2022, balance sheet? (Round your final answer to nearest dollar) Multiple Choice 0 $2.220,000 O $2,432,727 0 $2.626,113 0 $140,000