Lessee Company enters Into a lease on January $1,2024,$ that is accounted for as a finance lease. The lease calls for quarterly payments of $$20,000,$ beginning on January $1,2024,$ and

continuing for $5$ years. The last payment is due on October $1,2028.$ The lease has an implicit annual interest rate of $10\%.$ The present value of an annulty due at $10\%$ per perlod for $5$

perlods is $4\mathrm{.}170$ ; the present value of an annulty due at $2\mathrm{.}50\%$ per perlod for $20$ perlods is $15\mathrm{.}979.$ What amount will Lessee report as a lease payable $($not including accrued interest$)$ in Its

balance sheet on December $31,2024?$

Multiple Choice

$$416\mathrm{.}987$

$$319,580$

$$261,102$

$$247,630$

$$416,987$