On December $31,2024,$ Splish Brothers Corporation signed a $5-$year, non$-$cancelable lease for a machine. The terms of the lease called for Splish Brothers to make annual payments of $$8,148$ at the beginning of each year, starting December $31,2024.$ The machine has an estimated useful life of $b$ years and a $$5\mathrm{.}500$ unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Splish Brothers uses the straight$-$line method of depreciation for all of its plant assets. Splish Brother's' incremental borrowing rate is $11\%,$ and the lessor's implidit rate is unknown.

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$($a$)$

Your answer is correct.

What type of lease is this?

This is a$/$an $$ lease.

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List of Accounts

Attempts: $1$ of $3$ used

$($b$)$

Your answer is correct.

Compute the present value of the lease payments. $($For calculation purposes, use $5$ dedimol places as disployed in the foctor table provided and round final answer to $0$ decimal places es$.5,275.)$

Present value of the lease payments $

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List of Accounts

Attempts: $1$ of $3$ used

$($c$)$

Prepare all necessary journal entries for Splish Brothers for this lease through December $31,2025.($Llst all debit entries before credit entries Record Joumal entries in the order presented in the problem. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occount titles and enter O for the amounts. Round answers to $0$ decimal places es$.5,275$

I just need help with part C please thank you