Las Colinas Company purchased equipment by paying $51,000 cash on the purchase date and agreeing to pay $51,000 every six months during the next four years. The first payment is due six months after the purchase date. The company's incremental borrowing rate is 10%. The liability reported on the balance sheet as of the purchase date, after the initial $51,000 payment was made, is closest to: (FV of $1, PV of $1, FVA of $1, and PVA of $1)