Where does the 156856 come from?

leaseoperatingf20calendar
Lessee Accounting
Entered into 4 year lease on 1/1/02, payments beginning at lease inception
FMV equipment					200,000
Life in years					7
There is no purchase option and property reverts to lessor at end of lease term
Equipment cost to Lessor					170,000
Implicit rate					10%
Annual payments of					44,985
First payment is made on 1/1/02, all subsequent payments made 12/31 starting 12/31/02
December 31 year end
Lease type
	Operating, none of financing type lease criteria met
		10%	(Principal)	(Lease liability)
		Effective	Decrease	Outstanding
Date	Lease Payments	Interest	in balance	Balance
1/01/2002				156,856
1/01/2002	44,985	-	44,985	111,871
31/12/2002	44,985	11,187	33,798	78,073
31/12/2003	44,985	7,807	37,178	40,895
31/12/2004	44,985	4,090	40,895	(0)
	179,940	23,084	156,856