On January $1,2025,$ Crane Corporation signed a ten$-$year noncancelable lease for certain machinery. The terms of the lease called for Crane to make annual payments of $$190015$ at the end of each year for ten years with the title passing to Crane at the end of this period. The machinery has an estimated useful life of $15$ years and no salvage value. Crane uses the straight$-$line method of depreciation for all of its fixed assets. Crane accordingly accounted for this lease transaction as a finance lease. The lease payments were determined to have a present value of $$1334586$ at an effective interest rate of $7\%.$ With respect to this lease, Crane should record for $2025$

interest expense of $$79421$ and amortization expense of $$88972.$

lease expense of $$190015.$

interest expense of $$88972$ and amortization expense of $$76305.$

interest expense of $$93421$ and amortization expense of $$88972.$