Carla Vista Corporation, which uses ASPE, enters into a 6-year lease of equipment on September 1, 2023, that requires 6 annual payments of $17,000 each, beginning September 1, 2023. In addition, Carla Vista guarantees the lessor a residual value of $6,000 at lease end. The equipment has a useful life of seven years.

Assume instead that Carla Vista follows IFRS and that the amount expected to be paid under the residual value guarantee is $12,000. Calculate the amount of the right-of-use asset and prepare Carla Vistas September 2023 journal entry, assuming an interest rate of 12%.