On January 1, Y1 Lessee signed a 4-year lease. The lease requires 4 annual payments of $200,000, with the first payment due immediately on January 1, Y1 and on each January 1 for the next three years (1/1/Y2. 1/1/Y3, 1/1/Y4). What is the amount the Lessee should report as its lease liability on December 31, Y1 if is classified as a finance lease?

$556,653

$715,419

$800,000

$536,565

$600,000

$515,419