On January 1 of the current year, Reticulating Loader Corp. (RLC) leased equipment to Tim Inc. for a five-year term. RLC's required rate of return on transactions of this nature is 7%. Tim is unable to readily determine the implicit rate in the lease. Its IBR is 8%. Annual payments of $26,542 are due at the beginning of each year, first payable on the commencement date of the lease. The FV of the equipment at the end of the lease is estimated to be $50,000. The lessee has an option to purchase the equipment at the end of the lease term for $30,000. What amount will be debited to the net investment in the lease (lease receivable) account at the commencement of the lease?