...76 Current Attempt in Progress Crane Corp. is a manufacturer of truck trailers. On January 1, 2025, Crane leased ten trailers to Bramble Company under a six-year noncancelable lease agreement. The following information about the lease and the trailers is provided: 1. Equal annual payments that are due on January 1 each year provide Crane with an 8% return on net investment (the present value factor on an annuity due for 6 periods at 8% is 4.99271). The first payment will be made January 1, 2025. 2. 3. 4. Titles to the trailers pass to Bramble at the end of the lease. The fair value of each trailer is $45,000. The cost of each trailer to Crane is $40,500. Each trailer has an expected useful life of nine years. Collectibility of the lease payments is probable. Click here to view factor tables.