Ranch Corporation leased a special tractor on December 31,2022 . The lease agreement stipulated that Ranch would make a down payment and 5 semiannual lease payments. Ranch will pay $7,000 at the time of lease and the first $8,000 semiannual lease payment was also due at signing. The tractor should be recorded on December 31, 2022, at what amount, assuming the prevailing annual interest rate for such transactions is 7%