Stubbs Inc. leased a piece of manufacturing equipment on December $31,20$X$4,$ classified as an operating lease. The lease requires three lease payments of $$110,000$ due each December $31$st$,$ with the first payment due December $31,20$X$5.$ The contract$$s implied discount rate is $6\%$ and the present value of the lease payments is $$294,031.$

The journal entry$($ies$)$ associated with the December $31,20$X$5$ payment will reduce the right$-$of$-$use asset by what amount?

$$98,010$

$$92,358$

$$110,000$

$$36,667$