On September 30, 2016, Ferguson Imports leased a warehouse. Terms of the lease require Ferguson to make 10 annual lease payments of $59,000 with the first payment due immediately. Accounting standards require the company to record a lease liability when recording this type of lease. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Assume an 10% interest rate. What amount should Ferguson record the lease liability on September 30, 2016, before the first payment is made?