The following are the proposed terms of a lease: Fair value of leased asset $195,000 Lease term (vears) 5 Payment frequency Annual Payment timing End of vear Lease payment $44,700 Unguaranteed residual value $6,000 Lessor's cost of the leased asset $159,000 The lessor incurred $5,000 of initial direct costs. The lessee's incremental borrowing rate is 7.00%. How much operating income would the lessor recognize at the commencement of the lease