Culver Corporation entered into an operating lease to lease equipment from Highlander, Inc. on January 1, 2020. The lease calls for annual lease payments of $8,000, beginning on December 31, for each of the 5 years of the lease. In addition, Highlander, Inc. will pay Culver Corporation $3,300 as a cash incentive for entering the lease by December 31. In relation to the lease agreement, Culver incurred the following costs. Commissions for selling agents $800 Internal engineering costs 500 Legal fees resulting from the execution of the lease 3,400 Culvers incremental borrowing rate is 8%. If the value of the lease liability is $34,497, what amount will Culver record as the value of the right-of-use asset on January 1, 2020, at commencement of the operating lease?