asset's useful life$),$ with the first payment on calendar year. The lessor manufactured this

Required:

a$.$ Determine the price at which the lessor is "selling" the asset $($present value of the lease payments$).$

b$.$ Create a partial amortization table through the second payment on January $1,$ Year $2.$

c$.$ What would be the increase in earnings that the lessor would report in its income statement for the first year ended December $31($ignore taxes$)?$