Determining Amounts in Operating Lease

Kulver's Inc. leases equipment from Equip Inc. on January $1$ under a $3-$year operating lease. Kulver's agrees to pay Equip Inc. $$22,500$ annually with the first payment

due on January $1.$ As an incentive for Kulver's to sign the lease by January $1,$ Equip Inc. paid Kulver's Inc. $$1,050.$ Kulver's also incurred legal fees for the review of the

lease agreement $($$$300)$ and salaries for employees involved in negotiating the lease $($$$1,950).$ Assuming an incremental borrowing rate of $7\%$ for Kulver's Inc.,

determine the value of the lease liability and the right$-$of$-$use asset on January $1$ for Kulver's.

Note: Round your answers to the nearest whole dollar.