On December 31, 2015, Reagan Inc. signed a lease for some equipment having a nine-year useful life with Silver Leasing Co. Reagan makes the lease payments annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2021. There is no bargain purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease. Reagan's lease amortization schedule appears below: Calculate the amount of residual value guaranteed by Reagan to the lessor