Kulvers Inc. leases equipment from Equip Inc. on January 1 under a 3-year operating lease. Kulvers agrees to pay Equip Inc. $15,000 annually with the first payment due on January 1. As an incentive for Kulvers to sign the lease by January 1, Equip Inc. paid Kulvers Inc. $700. Kulvers also incurred legal fees for the review of the lease agreement ($200) and salaries for employees involved in negotiating the lease ($1,300). Assuming an incremental borrowing rate of 7% for Kulvers Inc., determine the value of the lease liability and the right-of-use asset on January 1 for Kulvers. Note: Round your answers to the nearest whole dollar.