On January 1, 2018, Harvey 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 minimum lease payments to record the lease was $350,195; the applicable discount rate was 10%. Harvey Company treated the lease as a capital lease under ASC 840. What is the balance of Lessee Company's lease liability as of December 31, 2018? $309,211 $375,211 $290,195 $350,195 Cannot be determined