(c) - Your answer is partially correct. Prepare a lease amortization schedule for Teal Mountain for the 5-year lease term. (Round answers to 2 decimal places, eg. 5,275.15.) TEAL MOUNTAIN COMPANY (Lessee) Lease Amortization Schedule Annual Lease Payment Plus BPO Interest on Liability Reduction of Lease Liability Date 5/1/20 $ i $ i $ i $ 5/1/20 i 5/1/21 5/1/22 5/1/23 5/1/24 4/30/25 $ $ (c) - Your answer is partially correct. Prepare a lease amortization schedule for Teal Mountain for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.) TEAL MOUNTAIN COMPANY (Lessee) Lease Amortization Schedule ase Payment Plus BPO Interest on Liability Reduction of Lease Liability Lease Liability i $ i $ i $ 68000.07 i JOAN 4504.61 $ $ e Textbook and Media The following facts pertain to a non-cancelable lease agreement between Sandhill Leasing Company and Teal Mountain Company, a lessee. Commencement date May 1, 2020 Annual lease payment due at the beginning of each year, beginning with May 1, 2020 $15,852.19 Bargain purchase option price at end of lease term $5,000 Lease term 5 years Economic life of leased equipment 10 years Lessor's cost $50,000 Fair value of asset at May 1, 2020 $68,000 Lessor's implicit rate 11 % Lessee's incremental borrowing rate 11 % The collectibility of the lease payments by Sandhill is probable. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)