On January 1, 2024, PokemonGo Company leased equipment to Wa…

On January 1, 2024, PokemonGo Company leased equipment to Waldo Corporation under a lease agreement that qualifies as an operating lease to Waldo. The present value of the end-of-year lease payments of $161,544 discounted at 8% is $645,000. The expected economic life of the asset is seven years. The lease term is five years. What would Waldo record as amortization in 2024?