On Janusry 1, 2018, Packard Corporstion leased equipment to Hewitt Company. The lesse term is 8 years. The first payment of $453,000 was made on January 1, 2018. Remaining payments are made on December 31 esch year, beginning with December 31, 2018. The equipment cost Packard Corporation S2 155.600. The present value of the lease payments is $2.395.600. les pe lease. Assuming the interest rate or this lease is 14%, what will be the balance reported as a liability by Hewlitt in the December 31, 2019, balance sheet? (Round final answer to the nearest doller.) The lease is appropriately classified as a sa Multiple Choice $1,555.83. $1,761,564. 1365.683