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On September 30, 2021, Ferguson imports leased a warehouse Terms of the lease require Ferguson to make 12 annual lease payments of $50,000 with the

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On September 30, 2021, Ferguson imports leased a warehouse Terms of the lease require Ferguson to make 12 annual lease payments of $50,000 with the first payment due immediately. Accounting standards require the company to record a lease ability when recording this type of tease (EV.0f $1. PV 51. EVALS1, EVA ES1. EVAD of S1 and PVAD of 50 (Use appropriate factor(4) from the tables provided) Assume a 7% interest rate What amount should Ferguson record the lease fiability on September 30, 2021, before the first payment is made? (Round your final answers to nearest whole dollar amount) Table or calculator function Lease Payment PV od Lease

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