On January 1, 2022, Gobert Corp. leases equipment from Mitchell, Inc. The lease calls for annual payments of $60,000 to be made every January 1 from 2022 through 2029. The equipment has a ten year useful life. Gobert guarantees a residual value of $20,000 at the end of the lease term. The equipment is expected to have a residual value of $30,000 at that time. Mitchell's implicit rate, known to Gobert, is 5%. Gobert's incremental borrowing rate is 9%. The entry to record the lease at inception will include a debit to Right-of-Use Asset of: