A lease agreement that qualifies as a finance lease calls for annuaf lease payments of $40,000 over a six-year lease term (also the asset's useful life), with the first payment on January 1 , the beginning of the lease The interest rate is 7%. The lessor's fiscal year is the calendar year, The lessor manufactured this asset at a cost of $191.000. Required: 0. Determine the price at which the lessor is "selling" the asset (present value of the lease payments). b. Create a partial amortization fable through the second payment on January 1 , Year 2. c. What would be the increase in earnings that the lessor would report in its income statement for the first year ended December 31 (ignore taxes)? Note: Use tables, Excel, or o financiol colculotor. (EV or SI, PV ofS1. EVA of S1, PVA of S1, EVAD of SI and PVAD of S1) Complete this question by entering your answers in the tabs below. Determine the price at which the lessor is "selling" the asset (present value of the lease payments). Note: Round your answers to hearest whole number and round percentage answer to 1 decimal place