On January 2, 20X1, Gold Star Leasing Company leases equipment to Brick Co. with 5 equal annual payments of $40,000, payable beginning December 31, 20X1. Brick Co. agrees to guarantee the $25,000 residual value of the asset at the end of the lease term. Brick's incremental borrowing rate is 10% and Brick does not know that Gold Star's implicit interest rate is 8%. Assume this is a financing type lease PV Annuity. Du PV Ordinary Annuity PV Single Sum 8% 5 periods 4.31213 3.99271 0.68058 10%, 5 periods 4.16986 3.79079 062092 What is the balance of the lease receivable on December 31, 20X12