At the beginning of the year 2009, a lessee company entered into a new capital lease agreement. The lease payments are $100,000 annually and are due at the end of each year for five year. The appropriate discount rate is 12 percent. Depreciation is on a straight-line basis with zero salvage value. With respect to the effect of the lease on the company's financial statements in the first year of the lease, which of the following is most accurate? The reduction in the company's:

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