Robbin, Inc., leased a machine from Ready Leasing Co. The lease requires 10 annual payments of $10,000 beginning immediately. The lease contract specifies the rate implicit in the lease of 12% and a purchase option of $10,000 at the end of the tenth year, even though the machines estimated value on that date is $20,000. Robbin is reasonably certain to exercise the purchase option. Robbin's incremental borrowing rate is 14%. The present value of an annuity due of 1 at: 12% for 10 years is 6.328 The present value of an annuity due of 1 at: 14% for 10 years is 5.946 The present value of 1 at: 12% for 10 years is .322 The present value of 1 at: 14% for 10 years is .270 What amount should Robbin record as lease liability at the beginning of the lease term