22 3 points Clocks & Co. is a retailer of luxury watches and clocks. Clocks & Co. leased a roadside billboard from Seen Inc. for $60 per year for 5 years. Lease inception was on December 4, 2018 and Seen Inc. paid Clocks & Co. a lease incentive of $16 on that date. Lease commencement was on January 1, 2019. The first payment was due within 5 days of lease commencement and Clocks & Co. made the first payment at the last possible date. The remaining payments are due at the beginning of each year. At lease commencement, the present value of the five payments was $255. The lease qualifies as an operating lease. The lessee did not incur any direct costs. On the lease commencement date, what amount did Clocks & Co record for the Right-of-Use Asset? 271 Previous Submit