N Corp. entered into a nine-year capital lease on a warehouse on December 31, 2013. Lease payments of $26,000, which includes real estate taxes of $1,000, are due annually, beginning on December 31, 2014, and every December 31 thereafter. N does not know the interest rate implicit in the lease; N's incremental borrowing rate is 9%. The rounded present value of an ordinary annuity for nine years at 9% is 6.0. What amount should N report as capitalized lease liability at December 31, 2013? (Answer: 150,000)

*Please show the calculations!