On $1/1/24,$ R$.$ Construction leased several items of equiptment under a $2$ year operating lease agreement from J$.$ Leasing, which routinely finances equiptment for other firms at an annual interest rate of $4\%.$ The contract calls for $4$ equal rent payments of $$44,000$ each, payable semianually on $6/30$ and $12/31$ each year. On $12/31,$ find: Lease Liability, Lease Expense, and ROU Asset.

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