A lease agreement that qualifies as a capital lease calls for annual lease payments of $40,000 over a five-year lease term, with the first payment at January 1, the leases inception. The interest rate is 4% (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.) If lessees fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? If Lessees fiscal year is the calendar year, complete the amortization schedule for the first two payments. What would be the interest payable at the end of the first year?