Nace Marufacturing Company leased a piece of nonspecialized equipment for use in its operations from Righteous Leasing on January 1, 2019. The 10 year loose requires toase payments of $6,500, beginning on January 1, 2019, and at each December 31 thereafter through 2027. The equipment is estimated to have a 10 yma life is depreciated on the straight-line basis and will have no residual value at the end of the lease term Nace's incremental borrowing rate is 7% Initial direct costs of 31.800 are incurred by the lessee on January 1, 2019. Righteous Leasing acquired the asset just prior to the lease term at a cost of $49.903. Collection of all a payments is reasonably assured. What is the reduction in the lease liability recorded with the first and second sease payments, respectively? A $5,045, $5,045 B. $6,500, $3,536 C. $3,419, $3,180 OD. $45,430, $3,320