A lease agreement that qualifies as a finance lease calls for annual lease payments of $50.000 over a four-year lease ferm (also the asset's useful life), with the first payment at 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 $144,000. (FV of \$1. PV of \$1. FVA of \$1, PVA of \$\$1. FVAD of \$1 and PVAD of 5i) (Use appropriate factor(s) from the tables provided.) Required: o. Determine the price at which the lessot is "selling" the asset (present value of the lease payments). b. Create a partial amortization table through the second payment on January 1, 2017. c. What would be the increase in eamings that the lessor 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. What would be the increane in earnings that the lessot would report in its income statement for the year ended December 31, 2016 (ignore taxes)? (input decreasee to income as negative amounts, Round your answers to nearest whole riamber.)