Here is the text from the image you provided:$---**$A machine from Grande Prairie Incorporated for a five$-$year period. Annual lease payments are $$315,000($including $$15,000$ annual executory costs$),$ due on December $31$ each year. The first payment was made on December $31,20$x$1,$ and the second payment on December $31,20$x$2.$ The appropriate interest rate for this type of lease is $10\%.$ The present value of the minimum lease payments at the inception of the lease $($before the first payment$)$ was $$1,251,000.****$The lease is being accounted for as an ROU Asset $($or finance lease$)$ by High Level. On its December $31,20$x$2$ statement of financial position, High Level should report a lease liability of$...**$a$)$ $$746,056$ b$)$ $$714,556$ c$)$ $$855,864$ d$)$ $$950,960---$Let me know if you need further assistance!