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Exercise ZlA-Sa-C Marin Leasing Company signs an agreement on January 1, 2017, to lease equipment to Cole Company. The following information relates to this agreement The term of the non-cancelable lease is6 years with no renewal option The equipment has an estimated econonic ife of 6 years The cost of the asset to the lessor is $341,000.The fair value of the asset at Janusry 1,2017, is 341,000 The asset will revert to the lessor at the end of the lease tenm, at which time the asset is expected to have a residual value of $20010 none of which is gueraeed The agreement requires equal amual rental payments, beginning on Janusry 1, 2017 Collectibility of the lease payments by Marin is probable 2. 4 Click here to view the factor table Your answer is correct Assuming the lessor desires a 8% rate of return on its investment, calculate the amount of the annual rental paymen required. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and the final answer to 0 decimal places e.g. 5,275.) Amount of the annual rental payment372 Your answer is cormect Prepare an amortization schedule that is suitable for the less for the lease term. (Round answers to 0 decimal places e.g 5,275.) MARIN LEASING COMPANY (Lessor) Lease Amortization Schedule Annual Lease Payment Plus Interest on Lease Recovery of Lease Lease Recelvable 47 1/1/20 1/1/21 1/1/22 12/31/22 1852 2