please see the second part for the question

Question 11 2 pts Present and future value tables of S1 at 3% are presented below N FV SI 1.03000 PV SI 0.97087 FVASI 1.0000 2.0300 2 1.06090 0.94260 3 1.09273 0.91514 4 5 3.0909 4.18361 5.3091 6.4684 7.66251 6 PVASI FVAD SI PVAD S1 0.97087 1.0300 1.00000 1.91347 2.0909 1.97087 2.82861 3.1836 2.91347 3.71710 4.3091 3.82861 4.57971 5.4684 4.71710 5.41719 6.66251 5.57971 6.230281 7.8923 6.41719 7.01969 9.1591 7.23028 7.78611 10.4639 8.01969 8.530201 11.80781 8.786111 9.25262 13.1920 9.53020 1.12551 0.88849 1.159271 0.86261 1.19405) 0.83748 1.22987 0.813091 1.266771 0.78941 1.30477 0.766421 1.34392 0.744091 1.38423 0.72242 8 9 8.8923 10.1591 11.4639 10 11 12.8078 12 0.70138 14.19201 14.6178 10.25262) 1.42576 1.46853 9.954001 10.63496 13 0.68095 15.6178 16.0863 10.954001 11.63496 14 1.51259 17.0863 17.5989 0.66112) 0.64186 11.29607 11.93794 15 1.55797 18.5989 19.15691 12.29607 16 1.60471 0.62317 20.15691 12.561101 20.7616 12.93794 A firm leases cominment under one taminlasatanlanan installment purchase) TUS 11.4639 0.74409 10 11 80196 3.78611 9.51020 12 13 1.34392 1.38423 1.42576 1.46853 1.51259 1.55797 0.72242 0.70138 0.68095 0.66112 0.64186 8.53020 9.25262 9.95400 10.63496 10.4619 11.8078 13.1920 14.6178 16.0863 17.5989 19.1569 20.7616 12.8078 14.1920 15.6178 17.0863 18.5989 20.15691 14 11.29607 10.25262 10.95400 11.63496 12.29607 15 11.93794 16 1.60471 0.62317 12.56110 12.93794 A firm leases equipment under a long-term finance lease (analogous to an installment purchase) that calls for 12 semiannual payments of $39,014.40. The first payment is due at the inception of the lease. The annual rate on the lease is 6%. What is the value of the leased asset at inception of the lease? $388,349. $454,128 $440,082 $400,000