On January 1, 2018, Jasperse Corporation leased equipment under a finance lease designed to earn the lessor a 12% rate of return for providing long-term financing. The lease agreement specified ten annual payments of $60,000 beginning January 1, and each December 31 thereafter through 2026. A 10-year service agreement was scheduled to provide maintenance of the equipment as required for a fee of $4,500 per year. Insurance premiums of $3,500 annually are related to the equipment. Both amounts were to be paid by the lessor and lease payments reflect both expenditures. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) At what amount will Jasperse record a right-of-use asset?

PVAD of $1

Lease payment =

n = 10

i = 12%

right-of-use asset =