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Monty Limited has entered into an agreement to lease manufacturing equipment. The following terms are included in the lease:

Lease terms

$5$ years

Payments required monthly on the last day of the month $$3\mathrm{.}062$

Leasing interest rate

$6\frac{\%}{?}$ annum

Estimated useful life of equipment

$5$ years

PV of lease payments

$$158,400$

The lease is entered into on January $1,2024.$ The equipment can be purchased for $$165,000.$ The company uses straight$-$line reciation depreciation

$($b$)$

Record the entry for the first lease payment on January $31,2024.($Credit account titles are automatically indented when the amount is entered. Do not indent manually, List all debit entries before credit entries$)$

$\backslash$table$[[\backslash$table$[[$Date$],[$January$]],$Account Titles,Debit,Credit$],[31,2024,,,]]$

What is the value of the outstanding lease liability on January $31,2024?$

v of the outstandinglease bability s