Lease

Leaik

$151.$ American Food Services leased a packing machine from Barton and Barton Corporation. Barton and Barton completed' construction of the machine on January $1,2024.$ The lease agreement for the $$5$ million $($fair value and present value of the lease payments$)$ machine specified four equal payments at the end of each year. The useful life of the machine was expected to have no residual value. Barton and Barton's implicit interest rate was $10\%.$

Required:

a$.$ Prepare an amortization schedule

for the four$-$year term of the lease. Create in a table format