On January 1, 2021, Lessee Co. signed a ten-year noncancelable lease for equipment. The terms of the lease called for Lessee to make annual payments of $124,000 at the beginning of each year for ten years, beginning on January 1, 2021. The lease liability was determined to have a present value of $944,000 (assumed; please do not attempt computations for years more than necessary) at an effective interest rate of 10%.

How much is the reduction in the lease liability for Lessee Co. on January 1, 2022? (Note: I am not asking about interest expense or carrying value of lease liability on 1/1/2022.)