Sunland Company manufactures a check$-$in kiosk with an estimated economic life of $12$ years and leases it to Coronado Airlines for a period of $10$ years. The normal selling price of the equipment is $$291,687,$ and its unguaranteed residual value at the end of the lease term is estimated to be $$20,800.$ Coronado will pay annual payments of $$43,500$ at the beginning of each year. Sunland incurred costs of $$164,300$ in manufacturing the equipment and $$4,300$ in sales commissions in closing the lease. Sunland has determined that the collectibility of the lease payments is probable and that the implicit interest rate is $11\%.$ Coronado Airlines has an incremental borrowing rate of $11\%.$

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Discuss the nature of this lease in relation to the lessee.

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Compute the amount of the initial lease liability. $($Round present value factor calculations to $5$ decimal places, es$.1\mathrm{.}25124$ and the final answer to odecimal place eg$.58,971)$

The amount of the initial lease liability $