On January $1,$ Year $1,$ White Co$.$ sold a property with a remaining useful life of $20$ years to Blue Co$.$ for $$900,000.$ At the same time, White entered into a contract with Blue for the right to use the property $($leaseback$)$ for a period of $6$ years, with annual rental payments of $$80,000$ that approximate the market rental payments for similar properties. On January $1,$ Year $1,$ the carrying amount of the property was $$680,000,$ and its fair value was $$770,000.$ A discount rate for the lease of $10\%$ is used by both White and Blue. The present value factor for an ordinary annuity at $10\%$ for $6$ periods is $4\mathrm{.}3553.$ The lease does not transfer the property to White at the end of the lease term and does not include a purchase option.

What amount of lease expense for the right of use of the property is recognized by White in Year $1?$

$$80,000$

$$13,000$

$$58,333$

$$50,151$