On December 31, 2023, Reagan Incorporated signed a lease with Silver Leasing Company for some equipment having a seven-year useful life. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2029. There is no purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease.

Reagan's lease amortization schedule appears below:

December 31	Payments	Interest	Decrease in Balance	Outstanding Balance
2023				$ 416,814
2023	$ 86,700		$ 86,700	330,114
2024	$ 86,700	$ 39,614	47,086	283,028
2025	$ 86,700	33,963	52,737	230,291
2026	$ 86,700	27,635	59,065	171,226
2027	$ 86,700	20,547	66,153	105,073
2028	$ 86,700	12,609	74,091	30,982
2029	$ 34,700	3,718	30,982	0

At what amount would Reagan record the right-of-use asset at the beginning of the agreement?