On December 31, 2020, Reagan Inc. signed a lease with Silver Leasing Co. for some equipment having a seven- year useful life. The $90,000 lease payments are made by Reagan annually, beginning at the signing date, with an initial lease liability of $519,115. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2026. There is no purchase option; but Reagan guarantees the residual value at $36,000 in excess of the expected residual value of the equipment. The implicit rate of interest in the lease is 4%. What is the balance of the lease liability on Reagan's balance sheet right after the second lease payment is made? Select one: A. $234,384 B. 356,280. C. $169,230 D. $322,084