On January 1, 2020, Marlene Corp. enters into an agreement with Dietrich Rentals Inc. to lease a machine from them. Both corporations adhere to ASPE. The following data relate to the agreement:

1. The term of the non-cancellable lease is three years with no renewal option. Payments of $271,622 are due on December 31 of each year.

2. The fair value of the machine on January 1, 2020, is $700,000. The machine has a remaining economic life of 10 years, with no residual value. The machine reverts to the lessor upon the termination of the lease.

3. Marlene depreciates all its machinery on a straight-line basis.

4. Marlene's incremental borrowing rate is 10%. Marlene does not have knowledge of the 8% implicit rate used by Dietrich.

If Dietrich records this lease as a finance lease, what amount would be recorded as Lease Receivable at the inception of the lease?

$700,000

$814,866

$271,622

$675,483