On 1 July 20X1 Pepper Ltd acquired specialist equipment at fair value. On the same day, Pepper Ltd leased the vehicle to Salt Ltd. Pepper Ltd determined that the lease was a finance lease. The details of the lease arrangement are as follows:

• The lease term was 5 years and the interest rate implicit in the arrangement was 5%

• The lessee agreed to pay an amount of $33,000 to the lessor on 1 July each year, commencing on 1 July 20X1

• The residual value at the end of the lease term was $22,000 of this, an amount of $16,000 was guaranteed by the lessee

• $3,000 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 $1,707 and the lessor paid initial direct costs of $1,981 at the commencement of the lease

• The lease arrangement is non-cancellable

• The equipment will be returned to the lessor at the end of the lease term

What's the amount that would be recognised by Salt Ltd in accordance with the requirements of AASB 16: Leases as the Right-of-Use Asset for the above lease arrangement.