Use the Following Information to Answer Questions Bellow

Multiple Choice

Use the following information to answer Questions bellow:
At the beginning of fiscal 2020, the county government signs a 2-year lease, with $50,000 paid at signing, and $50,000 due at the end of fiscal 2020. The lease has an implicit interest rate of 3%, the present value of the lease payments is $98,544, and the leased equipment has an estimated life equal to the life of the lease, no residual value.
-The lease is reported in the general fund. What asset is reported for this lease in the governmental funds balance sheet at the end of fiscal 2020?

A) Leased asset, $98,544
B) Leased asset, $49,272
C) Leased asset, $100,000
D) No asset is reported.