On January 1, 2021, Rastall Co. signed a long-term finance lease for an office building. The terms of the lease required Rastall to pay $17,000 annually, beginning December 31, 2021, and continuing each year for 14 years. On January 1, 2021, the present value of the lease payments is $112,679 discounted at the 12% interest rate implicit in the lease. In Rastalls December 31, 2021, balance sheet, the lease payable should be:

A. $109,200

B. $112,679

C. $221,000

D. $95,679