Questron $2$

X Corp entered into a nine$-$year finance lease on a warehouse on December $31.2024.$ Lease payments of $$26,000,$ which includes maintenance services of $$1,000,$ are due annually, beginning on December $31,2024$ and every Decermber $31$ thereafter. X Corp. is aware that the inferest rate inplicit in the lease $158\%$ : $x$ Corp's incremental borrowing rate is $9\%.$

To $$ Corp. what is tre cosc basis of this leased asset?

The present value of $$25,000$ at $9\%$

The present value of $$26\mathrm{.}000$ at $9\%$

The present value of $$25,000$ ar $8\%$

The preserf value of $$26,000$ at $89\%$