Smart Industries teases equipment on January 1, 2016. The finance lease has an 11-year term and an implicit rate of 5%. The equipment has a list price of 5300,000 and the lease agreement requires a $20,000 down payment when the lease is signed plus 10 annual payments of $36,261.28 on December 31 of each year of the lease. After Smart Industries makes its payment on December 31, 2018, what is its remaining lease obligation (carrying value) for the equipment? Select one: a. 280,000 b. 171,216 c234 364 d. 209.821