On 1/1/22, Bronson Company leased machinery with a fair value of $1,300,000 from Tyr Corporation. The agreement is an 8-year noncancellable lease requiring annual payments of $195,257 beginning 1/1/22, with a guaranteed residual of $23,500. Bronson expects that the residual will be only $20,000 at the end of the lease. Bronson appropriately accounts for the lease as a financing lease, and is aware that the implicit rate in the lease is 6%. Prepare the amortization table and the journal entries Bronson will make in 2022. What will Bronson report as its lease liability at 12/31/24?