5. On January 1, 2019, B enters into a 4-year non-cancelable lease agreement for an asset with a 9-year useful life. The lease requires annual payments of $40,000 on December 31st of each year. B's incremental borrowing rate is 5% Relevant present value factors are as follows: PV for ordinary annuity, 4 periods, 5% 3.54595 PV for annuity due, 4 periods, 5% 3.72325 NSTRUCTIONS: Prepare the journal entry for the signing of the lease on January 1, 2019. Prepare the journal entry for the first payment on 12/31/19