Francisco leased equipment from Julio on December 31, 2021. The lease is a 10-year lease with annual payments of $154,000 due on December 31 of each year beginning December 31, 2021. The present value of the lease payments is $974,550. 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 $771.526. O $820.550. O $764.016. O $765,016