A lease agreement that qualifies as a finance lease calls for annual lease payments of $10,000 over a five-year lease term (also the asset's useful life), with the first payment at January 1, the beginning of the lease. 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.) Required: a. Determine the present value of the lease upon the lease's inception. b. Create a partial amortization through the first payment on January 1, 2017 c. If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the first year ended December 31? Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the present value of the lease upon the lease's inception. (Round your ans round percentage answer to 1 decimal place.) PV factors based on Table or Calculator function: Lease Payment PV of Lease Required A Required B Required c Create a partial amortization through the first payment on January 1, 2017. (Enter all answers to nearest whole number.) Date Lease Payment Effective Interest Decrease in balance Outstanding balance 01/01/2016 01/01/2016 01/01/2017 Required A Required B Required If the lessee's fiscal year is the calendar year, what would be the pretax amounts rela report in its income statement for the first year ended December 317 (Round your and Impact on pretax income related to the lease: Total expenses