Windsor Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31, 2020. Annual rental payments of $57,000 are to be made at the beginning of each lease year (December 31). The interest rate used by the lessor in setting the payment schedule is 7%; Windsor's incremental borrowing rate is 9%. Windsor is unaware of the rate being used by the lessor. At the end of the lease, Windjor has the option to buy the