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Save Answer At January 1, 2021, Beta leased restaurant equipment from Payne Corporation under a six-year lease agreement in an operating lease. The lease agreement specifies annual payments of $60,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2025. The equipment was acquired recently by Payne at a cost of $360,000 and was expected to have a useful life of eight years with no salvage value at the end of its life. Payne seeks a 6% return on its lease investments. The antount to report the right-of-use asset on end of year 2021 Beta balance sheet would be: (Do not add dollar sign; do not add comma by yourself to your amount; round the answer to the whole number) Present Value of Ordinary Annuity of $1 Present Value of Annuity Due of $1 Period 3% 4% 69% 896 3% 496 696 8% 6 5.41719 5.24214 4.91732 4.62288 5.57971 5.45182 5.21236 4.99271 8 7.01969 6.73274 6.20979 5.74664 7.23028 7.00205 6.58238 6.20637 10 8.53020 8.11090 7.36009 6.71008 8.78611 8.43533 7.80169 7.24689