On January 1, 2010, Marty Inc.leased equipment by signing a five-year lease that required five payments of $60, 000 due on January 1 of each year with the first payment due January 1, 2010.The equipment remains the property of the lessor at the end of the lease and Marty does not guarantee any residual value.Marty accounted for the lease as an operating lease, and using a rate of 10%, determined its present value on January 1, 2010, to be $250, 194.What is the amount of current lease liability Marty should report on its December 31, 2010 balance sheet?
A)$40, 980
B)$45, 078
C)$54, 544
D)$60, 000

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The Answer of On January 1, 2010, Marty Inc.leased equipment by signing a five-year lease that required five payments of $60, 000 due on January 1 of each year with the first payment due January 1, 2010.The equipment remains the property of the lessor at the end of the lease and Marty does not guarantee any residual value.Marty accounted for the lease as an operating lease, and using a rate of 10%, determined its present value on January 1, 2010, to be $250, 194.What is the amount of current lease liability Marty should report on its December 31, 2010 balance sheet?
A)$40, 980
B)$45, 078
C)$54, 544
D)$60, 000