Riverbed Equipment Leasing Company leased equipment to Carla Vista Healthcare System on January 1, 2025, for a four-year period. Equal annual payments under the lease are $510000 and are due on January 1 of each year. The first payment was made on January 1, 2025. The implicit rate of interest contemplated by Riverbed Equipment Leasing and known to Carla Vista Healthcare is 8%. Carla Vista's incremental borrowing rate is 11%. The cost of the equipment on Riverbed Equipment Leasing accounting records was $800000. Assuming that the lease is appropriately recorded as an operating lease, at what amount is the lease recorded on Carla Vista Healthcare System's books on January 1, 2025?

PV Annuity Due PV Ordinary Annuity PV Single Sum

8%, 4 periods. 3.57710 3.31213. 0.73503

11%, 4 periods. 3.44371 3.10245. 0.65873

O $2040000

O $1824321

O $753636

O no entrv to record an operating lease.