Help pleaseee.. Chicken Nuggets Company leased a machine on January 1. 2021 with the following information:

Annual rent payment, every December 31, 2021 700,000

Lease Term 10 years

Useful life of machine 12 years

Incremental borrowing rate 14%

Implicit Interest rate 12%

PV of an ordinary annuity of 1 for 10 periods at 14% : 5.216 and 12% : 5.650

PV of 1 for 10 periods at 14% : 0.270 and 12% : 0.322

Chicken Nuggets Company has the option to purchase (reasonably certain) the machine upon the lease expiration on January 31, 2031 by paying P100,000. Determine the total lease liability.