On 1 July 20X1 Lessee Ltd leased some equipment from Lessor Ltd. The details of the lease arrangement are as follows:

• The lease term was for 8 years
• The interest rate implicit in the arrangement was 9%
• The lessee paid an amount of $45,000 per annum to the lessor commencing on 30 June 20X2
• Included in the annual payment was an amount of $6,000 for repairs and maintenance that Lessor Ltd had agreed to pay to external contractors for Lessee Ltd
• The residual value at the end of the lease term was $17,000. All of the residual was guaranteed by the lessee.
• $4,000 is the amount of the residual value guarantee that was expected to be payable by the lessee to the lessor at the end of the lease term
• The lessee paid initial direct costs of $627 at the commencement of the lease
• The lessor paid initial direct costs of $1732 at the commencement of the lease
• The lease is classified as a finance lease by the lessor

Write in the box below the amount that would be recognised as the Lease Receivable by Lessor Ltd at the commencement of the lease in accordance with the requirements of AASB 16