On January $1,20$X$1$ Lessee Company entered into a five$-$year lease which required annual payments of $$60,000.$ The first payment was due at the inception of the lease. The present value of the lease payments to record the lease was $$250,192$; the applicable discount rate was $10\%.$ What is the balance of Lessee Company's' lease liability as of December $31,20$X$1?$