On December 31, 2019, Crane Company leased machinery from Terminator Corporation for an agreed upon lease term of 3 years. Crane agreed to make annual lease payments of $18,000, beginning on December 31, 2019. The expected residual value of the machinery at the end of the lease term is $9,000, though Crane does not guarantee any residual value to Terminator. What amount will Crane record as its lease liability on December 31, 2019, if its incremental borrowing rate is 5% and the implicit rate of the lease is unknown? (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places, e.g. 5,275.) Click here to view factor tables. Lease liability $