On january 1, ramirez supply leased a car for a four-year period, at which time possession of the car will revert back to the lessor. annual lease payments are $20,000 due on december 31 of each year, calculated by the lessor using a 5% discount rate. negotiations led to ramirez guaranteeing the lessor a $74,000 residual value at the end of the lease term although ramirez estimates that the residual value after four years will be $70,000.

required:
what is the amount to be added to the right-of-use asset and lease payable under the residual value guarantee?