A lease agreement that qualities as a finance lease calls for annual lease payments of $50,000 over a four-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 7% (EV of $1. PV of $1. EVA of $1. PVA of $1. FVAD of S1 and PVAD of $D (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 ignore taxes)? 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 answers to nearest whole number and round percentage answer to 1 decimal place.) PV factors based on Table or Caloustor function Lease Payment PPVAD #51 50.000 PV of Lease Required ) A lease agreement that qualifies as a finance lease calls for annual lease payments of $50.000 over a four year lease term falso the asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 7% (EV 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 (ignore taxes)? Complete this question by entering your answers in the tabs below. Required A Required B Required C Create a partial amortization through the first payment on January 1, 2017. (Enter all amounts as positive values. Round your answers to nearest whole number Lease Payment Effective Decrease in balance Outstanding balance Interest 01/01/2018 01/01/2016 01/01/2017 A lease agreement that qualifies as a finance lease calls for annual lease payments of $50,000 over a four 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 7% (FV of $1. PV of $1. EVA of $1 PVA of $1. FVAD of Si 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 reportin its income statement for the first year ended December 31 (ignore taxes)? Complete this question by entering your answers in the tabs below. Required A Required B Required If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lesse would report in its income statement for the first year ended December 317 (Round your answers to nearest whole number) Impact on pretax income related to the lease Tetal expenses S 0