On January $1,2026,$ ABC Company leased equipment from Young

Leasing Company. The lease terms require annual payments of

$$10,000$ for twenty years with the first payment being due on

December $31,2026.$ The interest rate on the lease is $10\%,$ and

ABC Company will amortize the leased asset using the double

declining balance method. At January $1,2026,$ the equipment

had a $25-$year remaining useful life and the lease contract

specifies that the ownership of the equipment will transfer

to ABC Company at the end of the lease term.

Calculate the amount of the lease liability balance at

December $31,2027$ that would be classified as a current

liability.