Crane Ltd. entered into a lease on June 1, 2020. The lease term is six years and requires annual rental payments of $33,300 at the beginning of each year. Cranes incremental borrowing rate is 5% and the rate implicit in the lease is 9%. Calculate the capitalized amount of the leased asset if Crane follows ASPE. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, e.g. 5,275.75.)

Leased Asset

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