Koffman and Sons signed a four-year lease for a forklift on January 1, 2017. Annual lease payments of $1,257, based on an interest rate of 6%, are to be made every December 31, beginning with December 31, 2017.Explain why the value of the leased asset is not recorded at $5,028 ($1,257 x 4). The leased asset should be reported at the present value of the payments which is $4,356 not at $5,028At what amount would the lease obligation be presented on the balance sheet as of December 31, 2017? Round answers to the nearest whole dollar.Current liability portion??Long-term liability portion??