Linsmeier Corporation entered into a nine-year finance lease on a warehouse on December 31, 2024. Lease payments of $31,000, which includes maintenance services of $1,400, are due annually, beginning on December 31, 2025, and every December 31 thereafter. Linsmeier does not know the interest rate implicit in the lease; Linsmeier's incremental borrowing rate is 13%. The rounded present value of an ordinary annuity for nine years at 13% is 5.1317. What amount should Linsmeier report as recorded lease liability on December 31, 2024? Multiple Choice $155,000 $159,083 $266,400 $151,898 On January 1, 2024, Zhang Corporation entered into a four-year operating lease. The payments were as follows: $24,000 for 2024, $17,000 for 2025, $15,500 for 2026, and $13,500 for 2027. What is the correct amount of total lease expense for 2025? Multiple Choice $24,000 $17,000 $17,500 $20,500