On December 31,2024, Blossom Company leased machinery from Wildhorse Corporation for an agreed-upon lease term of 3 years. Blossom agreed to make annual lease payments of $13,000, beginning on December 31,2024 . The expected residual value of the machinery at the end of the lease term is $7,000, though Blossom does not guarantee any residual value to Wildhorse. What amount will Blossom record as its lease liability on December 31,2024 , if its incremental borrowing rate is 8% 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.8. 5,275.) Click here to view factor tables, Lease liability