1. On January 1, 2017, Milgram Corporation signed an eight-year noncancelable lease for a helicopter. The terms of the lease called for Milgram to make annual payments of $26,100 at the beginning of each year for eight years with title passing to Milgram at the end of this period. The helicopter has an estimated useful life of 10 years and no salvage value. Milgram uses the straight-line method of depreciation for all of its fixed assets. Milgram accordingly accounts for this lease transaction as a capital lease. The minimum lease payments were determined to have a present value of $171,800 at an effective interest rate of 7%. With respect to this capitalized lease: What should Milgram record as interest and depreciation expense for year 2017? [6 points) 10199 A What should Milgram record as interest and depreciation expense for year 2018? (8 points) A/ A) What amount should be reported by Milgram as the total obligation under capital lease on its December 31, 2018 balance sheet? (6 points)