Exercise $13-11$ Accounting for lessee operating lease $($LO $13-5,$ LO $13-6)$

On October $1,20$X$1,$ Vaughn, Inc., leased a machine from Fell Leasing Company for five years. The lease requires five annual payments

of $$10,000$ beginning September $30,20$X$2.$ Vaughn's incremental borrowing rate is $11\%,$ and it uses a calendar year for reporting

purposes. The machine has a $12-$year economic life with zero salvage value. Vaughn correctly classifies the lease as an operating

lease. Using $($PV of $1,$ PVAD of $1,$ and PVOA of $1)($Use the appropriate factor$($s$)$ from the tables provided.$)$

How much of the lease liability should be classified as current on December $31,20$X$1,$ and December $31,20$X$2?($Round your

intermediate calculations and final answers to $2$ decimal places.$)$

Additional information from tables: $3\mathrm{.}6959$ is the PVOA at $11\%$ for $5$ periods, PV of $$1$ for $2$ periods at $11\%$ is $0\mathrm{.}81162$ & for $1$ period it is $0\mathrm{.}90090$