On January 1, 2022, Monty Company contracts to lease equipment for 5 years, agreeing to make a payment of $107,994 at the beginning of each year, starting January 1, 2022. The leased equipment is to be capitalized at $500,000. The asset is to be amortized on a double-declining-balance basis, and the obligation is to be reduced on an effective-interest basis. Monty's incremental borrowing rate is 6%, and the company knows that the implicit rate in the lease is 4%. Title to the equipment transfers to Monty at the end of the lease. The asset has an estimated useful life of 5 years and no residual value. How would the value of the lease liability in part b change if Monty also agreed to pay the fixed annual insurance on the equipment of $2,000 at the same time as the rental payments