Sheridan, Inc. leased equipment from Cheyenne Company under a four$-$year lease requiring equal annual payments of $$394152,$ with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a $4-$year useful life and no salvage value. Sheridan, Inc.$\text{'}$s incremental borrowing rate is $10\%$ and the rate implicit in the lease $($which is known by Sheridan, Inc.$)$ is $8\%.$ Sheridan, Inc. uses the straight$-$line method to amortize similar assets. What is the amount of amortization expense recorded by Cheyenne, Inc. in the first year of the asset's life? $($Round intermediate calculation and the final answer to $0$ decimal places e$.5,275.)$

$[8\%,4$ periods, PV Annuity Due$3\mathrm{.}57710,$ PV Ordinary Annuity $3\mathrm{.}31213]$

$[10\%,4$ periods, PV Annuity Due $3\mathrm{.}48685,$ PV Ordinary Annuity $3\mathrm{.}16987]$

$$352480$

$$326371$

$$0$

$$343587$