On January 1, 2023, Au5R Company leased a machine. The lease requires annual payments of $67,500 every December 31 for eight years with the first payment being due on December 31, 2023. The interest rate on the lease is 10% and Au5R Company will record amortization on the leased asset using the double-declining balance method. Assume the machine had a ten-year remaining useful life at January 1, 2023 and the lease contract requires the machine to be returned to the lessor at the end of the lease. Calculate the lease liability balance at December 31, 2023. To answer this question use the present value table factors given below. No credit will be awarded for this question using a means other than the table factors given below to answer this question. Factors from the present value of a lump sum table for: i = 10% n = 8 n = 10 n = 12 n = 14 n = 16 0.470 0.390 0.320 0.260 0.220 Factors from the present value of an annuity table for: i = 10% n = 8 n = 10 n = 12 n = 14 n = 16 5.340 6.160 6.810 7.370 7.820