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 $40.000 annually, beginning December 31, 2021, and continuing each year for 14 years. On January 1, 2021, the present value of the lease payments is $279.275 discounted at the 11% interest rate implicit in the lease. In Rastall's December 31, 2021, balance sheet, the lease payable should be: Multiple Choice $279,275 $269,995 $239,275 $520,000