Ayayai Equipment Leasing Company leased equipment to Wildhorse Healthcare System on January $1,2025,$ for a four$-$year period. Equal annual payments under the lease are $$450000$ and are due on January $1$ of each year. The first payment was made on January $1,2025.$ The implicit rate of interest contemplated by Ayayai Equipment Leasing and known to Wildhorse Healthcare is $8\%.$ Wildhorse's incremental borrowing rate is $11\%.$ The cost of the equipment on Ayayai Equipment Leasing accounting records was $$870000.$ Assuming that the lease is appropriately recorded as an operating lease, at what amount is the lease recorded on Wildhorse Healthcare System's books on January $1,2025?$

$\backslash$table$[[,$PV Annuity Due,PV Ordinary Annuity,PV Single Sum$],[8\%,4$ periods,$3\mathrm{.}57710,3\mathrm{.}31213,0\mathrm{.}73503],[11\%,4$ periods,$3\mathrm{.}44371,3\mathrm{.}10245,0\mathrm{.}65873],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[$no entry to record an operating lease.,,,$]]$