A lease agreement that qualifies as a finance lease calls for annual lease payments of $50,000 over a six year lease term (also the asset's useful life with the first payment at January 1, the beginning of the case. The interest rate is 5% (FV of $1. PV of $1. FVA of $1 PVA O SI EVAD of $i and PVAD of $3 (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 amonization table through the second payment on January 1 2017 c. the lessee's fiscal year is the calendar year what would be the pretex amounts related to the lease that the lessee would report in its income statement for the year ended December 31, 2016 (gnore taxes? Complete this question by entering your answers in the tabs below. Required Frequired Required Determine the present value of the leave upon the lease's inception (Round your answers to nearest whole number and found percentage answer to decimalla V factors and on LP 50 000 b. Create a bartial amortization table through the second 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 woul in its income statement for the year ended December 31, 2016 fignore taxes)? Complete this question by entering your answers in the tabs below. Required Required Required Determine the present value of the lease upon the lease's inception, (Round your answers to nearest whole number and round percentage answer to 1 decimal place) PV factors based on Table or Calculator function Lease Payment S 50 000 - 50 Pote nabled Sp21352-4026_Exam 1P Seved Help Save & Exit Sut b. Create a partial amortization table through the second payment on January 1, 2017 c. If the lessee's fiscal year is the calendar year, what would be the pretex amounts related to the lease that the lessee would report in its income statement for the year ended December 31, 2016 ignore taxes)? Complete this question by entering your answers in the tabs below. required A Regalos Required Create a partial amortization table through the second payment on January 1, 2017. (Enter all amounts as positive values. Round your answers to nearest whole number) Date Effective Decrease in Outstanding Payment Interest balance balance 01/01/2016 0101 2016 0001/2017 0 0 in its income statement for the year ended December 31, 2016 (ignore taxes)? Complete this question by entering your answers in the tabs below. Required Hequired B Required I If the lessee's fiscal year is the calendar year, what would be the pretex amounts related to the lease that the lessee would report in its income statement for the year ended December 31, 20162 (Round your answers to nearest whole number) act on ta income related to the lease Totalpos 5 Required B