Sheffield Corporation entered into an operating lease agreement to lease equipment from Badger, Inc. on January 1, 2020. The lease calls for annual lease payments of $38,000, beginning on January 1, for each of the 3 years of the lease. In addition, Badger will pay Sheffield $5,000 as a cash incentive for entering the lease by January 1, 2020. In relation to the lease agreement, Sheffield incurred the following costs. $2,500 Salaries of employees involved in the investigation of the lease Lease document preparation costs incurred after execution of the lease 500 Sheffield's incremental borrowing rate is 10%. If the value of the lease liability is $103,950, what amount will Sheffield record as the value of the right-of-use asset on January 1, 2020, at commencement of the operating lease? Value of the right-of-use asset $ 101,950