Part $2$: At January $1,2024,$ Norway Company leased a machine from Yong Manufacturer. The following information pertains to the lease:

Lease term

$3$ years

Annual lease payments beginning January $1,2024$ and at each

December $31$ thereafter through $2025$

$$80,000$

Present value of lease payments at $6\%$

$$226,671$

Yong Manufacturer's implicit rate $($known by Norway$)$

$6\%$

On December $31,2026,$ the machine reverts back to Yong. Both companies use straight$-$line depreciation$/$amortization$.$ Assume useful life of machine is $5$ years. Fair value of equipment is $$360,000.$ The lease is classified as an operating lease:

What is the balance of right$-$of$-$use asset that Norway will report in its balance sheet at December $31,2024?$