On January 1, 2020, Larkspur Co. leased a building to Crane Inc. The relevant information related to the lease is as follows. 1. 2 3. The lease arrangement is for 10 years. The building is expected to have a residual value at the end of the lease of $3,900,000 (unguaranteed). The leased building has a cost of $4,400,000 and was purchased for cash on January 1, 2020. The building is depreciated on a straight-line basis, Its estimated economic life is 50 years with no salvage value. Lease payments are $260,000 per year and are made at the beginning of the year. Crane has an incremental borrowing rate of 5%, and the rate implicit in the lease is unknown to Crane. Both the lessor and the lessee are on a calendar-year basis. 4. 5. 6. If Crane paid $30,000 to a real estate broker on January 1, 2020, as a fee for finding the lessor, what is the initial measurement of the right-of-use asset? Right-of-use asset $ 2351268