Riverbed Company leases an automobile with a fair value of $10000 from Simon Motors, Inc., on the following terms: Click here to view factor tables. 1. 2. 3. 4. Non-cancelable term of 50 months. Rental of $230 per month at the beginning of each month. Estimated economic life of the automobile is 60 months. Riverbed Company's incremental borrowing rate is 6% a year (0.5% a month). Simon's implicit rate is unknown. What is the present value of the lease payments to determine the lease liability? Present value $