Francisco leased equipment from Julio on December 31, 2024. The lease is a 10-year lease with annual payments of $155,000. due on December 31 of each year beginning December 31, 2024, The present value of the lease payments is $1,047,649. Francisco's incremental borrowing rate is 12% for this type of lease. The implicit rate of 10% is known by the lessee. What should be the balance in Francisco lease liability on December 31,2025 ? Multiple Choice 5825.414 $092.649 5826.914 5833,424