Ivanhoe Corporation entered into an operating lease to lease equipment from Oriole, Inc. on January 1, 2025. The lease calls for annual lease payments of $9,000, beginning on December 31 , for each of the 5 years of the lease. In addition, Oriole, Inc. will pay Ivanhoe Corporation $2,000 as a cash incentive for entering the lease by December 31. In relation to the lease agreement, Ivanhoe incurred the following costs. Ivanhoe's incremental borrowing rate is 6%. If the value of the lease liability is $40,186, what amount will Ivanhoe record as the value of the right-of-use asset on January 1, 2025, at commencement of the operating lease? Value of the right-of-use asset $