Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable. Cash Payment Effective Interest Decrease in balance Payment 1 2. 3 4 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 5 Outstanding Balance 72,469 62,469 57,466 52,064 46,229 39,927 33,121 25,771 17,833 ? 10,000 5,002 5,403 5,835 6,302 6,806 7,350 7,938 ? ? 4,998 4,597 4,165 3,698 3,194 2,650 2,062 ? ? 6 7 8 9 10 ? What is the effective annual interest rate? (Round final answer to the nearest whole percentage.) Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost of the computers was $20 million. This noncancelable lease had the following terms: Lease payments: $3,550,809 semiannually; first payment at January 1, 2018; remaining payments at June 30 and December 31 each year through June 30, 2022. Lease term: 5 years (10 semi-annual payments). No residual value; no purchase option. Economic life of equipment: 5 years. Implicit interest rate and lessee's incremental borrowing rate: 10% semiannually. Fair value of the computers at January 1, 2018: $24 million. What is the outstanding balance of the lease liability in Lone Star's June 30, 2018, balance sheet? (Round your answer to the nearest dollar.)