A lease agreement that qualifies as a capital lease calls for annual lease payments of $30,000 over a four- year lease term, with the first payment at January 1, the lease's inception. The interest rate is 8%. Assume the asset being leased cost the lessor $100,000 to produce. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Determine the price at which the lessor is "selling" the asset (present value of the lease payments) PV factors based on Table or Calculator function PVAD of $1 Lease Payment 30,000 4 80% 107,313 PV of Lease What would be the amounts related to the lease that the lessor would report in its income statement for the year ended December 31 (ignore taxes)? Cash Interest Received Interest Decrease in Outstanding Date 01/01/2016 01/01/2016 01/01/2017 Revenue Balance Balance $107,313 Pretax impact on income related to the lease: Interest revenue Sales revenue Total pretax impact on income