How would the value of the lease liability in part b change if Grouper also agreed to pay the fixed annual insurance on the equipment of $2,000 at the same time as the rental payments? (Round answers to 0 decimal places, eg. 5,275.) The lease liability On January 1,2020, Grouper Company contracts to lease equipment for 5 years, agreeing to make a payment of $154,201 at the beginning of each year, starting January 1, 2020. The leased equipment is to be capitalized at $643,000. The asset is to be amortized on a double-declining-balance basis, and the obligation is to be reduced on an effective-interest basis, Grouper's incremental borrowing rate is 6%, and the implicit rate in the lease is 10%, which is known by Grouper. Title to the equipment transfers to Grouper at the end of the lease. The asset has an estimated useful life of 5 years and no residual value