Ch 15 HW, Part 1 Saved Help Seve Exit Submit Check my work 4 0.35 por A lease agreement that qualifies as a finance lease calls for annual lease payments of $15.000 over a fouryear lease term (also the asset's useful life with the first payment at January 1, the beginning of the lease. The interest rate is 5%. The lessor's fiscal year is the calendar year. The lessor manufactured this asset at a cost of $50,000V of $1. PV of $1. EVA of S1.PVA of $1. EVAD of Si and PVAD of 3) (Use appropriate factor(s) from the tables provided) 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, 2017 What would be the increase in earnings that the lessor would report in its income statement for the year ended December 31, 2016 Ignore toes? 3423 book Complete this question by entering your answers in the tabs below. References Required A Required Required Create a partial amortization table through the second payment on January 1, 2017. (Enter all amounts as positive values. Round your answers to nearest whole number) Date Lease Effective Decrease in Outstanding Payment Interest Balance Balance