On January 2, 2021, Penelope Company leases equipment to Pes Co. with 5 equal annual payments of $164000 each, payable beginning January 2, 2021. Pes Co. agrees to guarantee the $104000 residual value of the asset at the end of the lease term. The expected value of the residual is $0. Pess incremental borrowing rate is 11%, however it knows that Penelopes implicit interest rate is 9%. The journal entry Penelope makes at January 2, 2021 includes a debit to right-of-use asset for?

	PV Annuity Due	PV Ordinary Annuity	PV Single Sum
9%, 5periods	4.23972	3.88965	0.64993
11%, 5periods	4.10245	3.69590	0.59345