On January 1, 2021, Sweetwater Furniture Company leased office space under a 21-year operating lease agreement. The contract calls for annual lease payments on December 31 of each year. The payments are $10,000 the first year and increase by $500 per year. Benefits expected from using the office space are expected to remain constant over the lease term.

Required:
Record Sweetwater’s lease payment at December 31, 2025 (the fifth lease payment), and December 31, 2038 (the fifteenth lease payment).