Mando Co. leased a piece of nonspecialized equipment for use in its operations from Empire Leasing on January 1, 2019. The 5-year lease requires annual lease payments of $346, beginning on January 1, 2019.The lease qualifies as an operating lease for the lessee. Mando's incremental borrowing rate is 11%. Mando incurred initial direct costs of $37.

What is the lease expense that Mando will record at the end of each year of the lease? (Round to the nearest whole dollar.)