on january $1,2025,$ cheyenne company contracts to equipment for $5$ years, agreeing to make a payment of $117027$ at the beginning of each year, starting january $1,2025.$ the leased equipement is to be capitalized at $532000.$ the asset is to be amortized on double$-$declining$-$balance basis, and the obligation to be reduced on an effective$-$interest basis. cheyenne's incremental borrowing rate is $6\%$ and the implicit rate in the lease is $5\%,$ which is known by cheyenne. title to the equipment transfers to cheyenne at the end of the lease. the asset has an estimated useful life of $5$ years and no residual value. what is the value og the lease liability if cheyenne also agreed to pay the fixed annual insurance on the equipment of $$2000$ at the same time as the rental payment?

lease liability $?$