Bottomly Industries Has Entered a Capital Lease with a Financial

Bottomly Industries has entered a capital lease with a financial institution for a warehouse on a small parcel of land. If the interest rate being charged is 12%, compounded every 2 months, and Bottomly will be making payments of $24,083 at the beginning of every two months [six times a year] for five years, what is the historical cost value of the asset that will appear on the Company's balance sheet?

A) $86,814
B) $193,993
C) $325,667
D) $539,375
E) $550,162