Oriole Ltd. entered into a lease on June 1, 2020. The lease term is six years and requires annual rental payments of $30,900 at the beginning of each year. Orioles incremental borrowing rate is 8% and the rate implicit in the lease is 9%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE.

Calculate the capitalized amount of the leased asset if Oriole follows ASPE. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, e.g. 5,275.75.)

Leased Asset

$Enter your answer in accordance to the question statement