Help Save & Exit uiz ch 15 2 On December 31, 2017, Reagan Inc. signed a lease with Silver Leasing Co. for some equipment having a seven-year useful life. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2023. There is no purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease. 10 1548 Reagan's lease amortization schedule appears below Decrease in Outstanding Dec. 31 Pa ts Interest Balance $519,115 429,115 356,280 280,531 281,752 119,822 34,615 2017 2017 $90,00 2018 $90,00 $17,165 2019 $9e,e00 2820 $90,000 2821 $90,00 2822 $90,000 2823 $36,000 14,251 11,221 8,070 4,793 1,385 $90,000 72,835 75,749 78,779 81,930 85,207 34,615 At what amount would Reagan record the right-of-use asset at the beginning of the agreement? $519.115