1 Air Berhad enters into an agreement with Bowing Ltd for lease of an aircraft, with an option to extend for five years. The details of the lease agreement are as following: Commencement Date Lease Term Lease Payment (paid in arrears) Lessee's Incremental Borrowing Rate Useful Life of Underlying Asset January 1, 2021 10 years RM100,000 annually The present value of each lease payment is given as below: Period 6% 25 years Present value of lease payment (RM) 1 94,339.62 2 88,999.64 3 83,961.93 4 79,209.37 5 74,725.82 6 70,496.05 7 66,505.71 8 62,741.24 9 59,189.85 10 Total 55,839.48 736,008.71 Required: In accordance to Paragraph 26 of MFRS 16, Leases, prepare the amortization schedule for Air Berhad. You may use the following format: Period Payment Interest Liability Liability expenses reduction Depreciation expenses Net Asset Balance Depreciation Beginning (15 marks)