On January 1, 2020, Marin Co. leased a building to Cullumber Inc. The relevant information related to the lease is as follows.

1.		The lease arrangement is for 10 years. The building is expected to have a residual value at the end of the lease of $2,700,000 (unguaranteed).
2.		The leased building has a cost of $3,200,000 and was purchased for cash on January 1, 2020.
3.		The building is depreciated on a straight-line basis. Its estimated economic life is 50 years with no salvage value.
4.		Lease payments are $275,000 per year and are made at the beginning of the year.
5.		Cullumber has an incremental borrowing rate of 9%, and the rate implicit in the lease is unknown to Cullumber.
6.		Both the lessor and the lessee are on a calendar-year basis.

Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

Prepare the journal entries that Marin should make in 2020.

Prepare the journal entries that Cullumber should make in 2020

If Cullumber paid $20,000 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?