GM leases: destination charge included in residual value?

For calculating GM residual values: are residuals considered part of the capitalized cost/residual value?

For example, if the MSRP is 50K, but MSRP including destination is 51K, and residual is 60%, is it:

60% of 50K
or
60% of 51K?

If destination is included, it makes the residual better…

Destination is included. Use final msrp after destination.