A company leases a motor vehicle. The present value of minimum lease payments is $17355 and the rate implicit in the lease is 10%. The terms of the lease require three annual instalments to be paid of $10000 each at the start of each year and the first intalment was already paid. At the end of the first year of the lease what amount will be shown for the lease liability in the company's statement of financial position under the headings of non-current liabilities and current liabilities?
A.
Current liabilities: $9091 Non-current liabilities: $10000
B.
Current liabilities: $10000 Non-current liabilities: $10900
C.
Current liabilities: $10900 Non-current liabilities: $10000
D.
Current liabilities: $10000 Non-current liabilities: $9091