35.On January 2, 2021, Gold Star Leasing Company leases equipment to Brick Co. with 5 equal annual payments of $160,000 each, payable beginning January 2, 2021. Brick Co. agrees to guarantee the $150,000 residual value of the asset at the end of the lease term. The expected value of the residual value is $50,000. Brick's incremental borrowing rate is 10%, however it knows that Gold Star's implicit interest rate is 8%. What journal entry would Brick Co. make at January 2, 2021 to record the lease? PV Annuity Due PV Ordinary Annuity PV Single Sum 8%, 5 periods 4.31213 3.99271 .68508 10%, 5 periods 4.16986 3.79079 .62092 598,449 598,449 758,449 160,000 598,449 a. Right-of-Use Asset Lease Liability b. Right-of-Use Asset Cash Lease Liability C. Right-of-Use Asset Cash Lease Liability d. Right-of-Use Asset Cash Lease Liability 689,940 160,000 529,940 707,342 160,000 547,342 28. In computing amortization of a leased asset where there is no bargain purchase option, the lessee should subtract a. no residual value and depreciate over the term of the lease. b. an unguaranteed residual value and depreciate over the term of the lease. C. a guaranteed residual value and depreciate over the life of the asset. d. an unguaranteed residual value and depreciate over the life of the asset