The following facts are for a non-cancellable lease agreement between Sunland Corporation and Sunland Corporation, a lessee: Inception date July 1, 2023 Annual lease payment due at the beginning of each year, starting July 1, 2023 Bargain purchase option price at end of lease term reasonably certain to be exercised by Sunland Lease term $20,286.43 $4,000.00 5 years Economic life of leased equipment Lessor's cost Fair value of asset at July 1, 2023 Lessor's implicit rate Lessee's incremental borrowing rate 10 years $55,200 $90,200 8% 8% The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties about costs that have not yet been incurred by the lessor. The lessee assumes responsibility for all executory costs. Both Sunland and Sunland use IFRS. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. (a) Calculate the amount of the right-of-use asset and lease liability. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 2 decimal places, e.g. 52.75.)