Sandhit, Inc. manufactures machinery used in the mining industry. On January 2 2021 it leased equipment with a cost of $560000 to Silver Polat Co The 5-year lease calls for a 20% down payment and equalannual payments of 5172314 at the end of each year The equipment has an expected useful life of 5 years Silver Point's incremental borrowing rate is 10% and it depreciates similar equipment using the double declining balance method. The selling price of the equipment is $860000, and the rate implicit in the lease k 8% which is known to Silver Point Co What is the book value of the leased asset at December 31, 2017 O $516000 $860000 $688000 $550400