The following facts pertain to a non-cancelable lease agreement between Teal Mountain Leasing and Sandhill Group, a lessee (amounts in thousands).

Commencement date		May 1, 2022
Annual lease payment due at the beginning of
each year, beginning with May 1, 2022		26,246.30
Bargain purchase option price at end of lease term		4,000
Lease term		5	years
Economic life of leased equipment		10	years
Lessors cost		82,000
Fair value of asset at May 1, 2022		118,000.00
Lessors implicit rate		7	%
Lessees incremental borrowing rate		7	%

The collectibility of the lease payments by Teal Mountain is probable.

ompute the amount of the lease receivable at commencement of the lease. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round answer to 0 decimal places, e.g. 5,275.)