On December 31, 2019, Cullumber Company leased machinery from Terminator Corporation for an agreed upon lease term of 3 years Cullumber agreed to make annual lease payments of $19.500, beginning on December 31, 2019. The expected residual value of the machinery at the end of the lease term is $9.750, though Cullumber does not guarantee any residual value to Terminator. What amount will Cullumber record as its lease ability on December 31, 2019, if its incremental borrowing rate is 8% and the implicit rate of the lease is unknown? (For calculation purs, use 5 decimal places as diglayed in the factor table provided and round final mower to O decimal places, ea 5.275) Click here to view factor tables Lease liability