Skysong AG leases an automobile with a fair value of 9,630 from Simon Motors, on the following terms.

1.		Non-cancelable term of 50 months.
2.		Rental of 200 per month (at the beginning of each month). (The present value at 0.5% per month is 8,873.)
3.		Skysong guarantees a residual value of 1,230 (the present value at 0.5% per month is 569). Skysong expects the probable residual value to be 1,230 at the end of the lease term.
4.		Estimated economic life of the automobile is 60 months.
5.		Skysongs incremental borrowing rate is 6% a year (0.5% a month). Simons implicit rate is unknown. What is the present value of the lease payments to determine the lease liability? (Round answer to 0 decimal places, e.g. 5,275.)