On 30 June 2012,Mala Ltd Leased a Vehicle to Tango

On 30 June 2012,Mala Ltd leased a vehicle to Tango Ltd.Mala Ltd had purchased the vehicle on that day for its fair value of $89 721.The lease agreement cost Mala Ltd $1 457 to have drawn up and requires Tango to reimburse Mala for annual insurance costs of $1 050.The amount recorded as a lease receivable by Mala Ltd at the inception of the lease is:

A) $88 264
B) $89 721
C) $90 771
D) $91 178