Remeasuring a Lease Liability Universal Inc. signed a contract to lease equipment for a 4-year term on January 1, 2020,

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Remeasuring a Lease Liability
Universal Inc. signed a contract to lease equipment for a 4-yearterm on January 1, 2020, for $36,000 annually beginningimmediately. The lease included a purchase option at the end of thelease for $14,400, that at the commencement of the lease, Universaldid not believe would exercise. However, on December 31, 2021, twoyears later, circumstances had changed causing Universal to nowreasonably expect to exercise the option. Universal’s incrementalborrowing rate changes from 5% at the lease commencement date to 7%currently. The incremental borrowing rate at lease commencement didnot reflect the purchase option. On December 31, 2021, the leaseliability and right-of-use asset had balances of $66,938 and$67,019, respectively.
What is the adjusted lease liability on December 31, 2021?