On Jаnuаry 2, 2025, Hаll Leasing Cоmpany leases equipment tо Oates Cоmpany with 5 equal annual payments of $240,000 each, payable beginning January 2, 2025. Oates Company agrees to guarantee the $150,000 residual value of the asset at the end of the lease term. The expected value of the residual is $0. Oates’s incremental borrowing rate is 10%, however, it knows that Hall’s implicit interest rate is 8%. What amount would the Right-of-Use Asset be debited for in the journal entry recorded on January 2, 2025 by Oates Company? (Select the closest answer.)