On December $31,2025,$ Pharoah Corporation leased a plane from Flounder Company for a seven$-$year period expiring December $31,2032.$ Equal annual payments of $$454000$ are due on December $31$ of each year, beginning with December $31,2025.$ The lease is properly classified as a finance lease on Pharoah's books. The present value at December $31,2025$ of the eight lease payments over the lease term discounted at $11\%$ is $$2593337.$ Assuming the first payment is made on time, the amount that should be reported by Pharoah Corporation as the lease liability on its December $31,2025$ balance sheet is

$$2593337.$

$$2374664.$

$$2139337.$

$$2424604.$