N Corp. entered into a nine-year capital lease on a warehouse on December 31, 2013. Lease payments of $30,000, which includes real estate taxes of $1,100, are due annually, beginning on December 31, 2014, and every December 31 thereafter. N Corp. does not know the interest rate implicit in the lease; N's incremental borrowing rate is 12%. The rounded present value of an ordinary annuity for nine years at 12% is 5. What amount should N report as capitalized lease liability at December 31, 2013?

	$270,000.
	$150,000.
	$260,100.
	$144,500.