On December 31, 2022, Wildhorse Corp. leased a machine from Eastern Star Ltd. for a five-year period. Annual lease payments are $313000 (including $28000 annual executory costs), due on December 31 each year. The first payment was made on December 31 , 2022 , and the second payment on December 31,2023 . The appropriate interest rate for this type of lease is 10%. The present value of the minimum lease payments at the inception of the lease (before the first payment) was $1188450. The lease is being accounted for as a finance lease by Wildhorse. On its December 31,2023 statement of financial position, Wildhorse should report a lease liability of $194655.$90345.$708795.$903450