On January 1, 2026, ABC Company leased equi pment from Young Leasing Company. The lease terms require an nual payments of $10,000 for twenty years with the first pay ment being due on December 31, 2026. The interest rate on the lease is 10%, and ABC Company will amortize the leased asset using the double declining balance method. At January 1, 202 6 , the equipment had a 25-year remaining useful life and the lease contract specifies that the ownership of the equipme nt will transfer to ABC Company at the end of the lease ter m. Calculate the amount of the lease liability balance at December 31, 2027 that would be classified as a current liability. You will need to use the time value of mone y table factors posted in carmen to answer this question. T o access these factors, click modules and then scroll to w eek 11. Click on the link labeled present \& future value tab le factors. No credit will be awarded for this question us ing a means other than these posted table factors to answer t his question. On January 1, 2026, ABC Company leased equi pment from Young Leasing Company. The lease terms require an nual payments of $10,000 for twenty years with the first pay ment being due on December 31, 2026. The interest rate on the lease is 10%, and ABC Company will amortize the leased asset using the double declining balance method. At January 1, 202 6 , the equipment had a 25-year remaining useful life and the lease contract specifies that the ownership of the equipme nt will transfer to ABC Company at the end of the lease ter m. Calculate the amount of amortization expens e recorded on the leased asset in 2027. You will need to use the time value of mone y table factors posted in carmen to answer this question. T 0 access these factors, click modules and then scroll to w eek 11. Click on the link labeled present \& future value tab le factors. No credit will be awarded for this question us ing a means other than these posted table factors to answer t his question. Future Value of an Annuity Present Value of an Annuity Future Value of a Lump-Sum Present Value of a Lump-Sum