Assume that on December 31, 2019, Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffield Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $67,299 beginning on December 31,2019. 2. The fair value of the building on December 31,2019 is $492.571. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $10,500, and an expected residuaf value of $7,300. Kimberly-Clark depreciates similar buildings on the straight-line method. 4. The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. 5. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. Click here to view factor tables. (For calculation purposes, use 5 decimal places as disployed in the foctor table provided.) (To record first lease payment) (To record amortization of the right-of-use asset) (To record interest expense) (To record amortization of the rinht-of-uce aeeet ) . Assume that on December 31, 2019. Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffeld Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $67,299 beginning on December 31,2019. 2. The fair value of the building on December 31,2019 is $492,571. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $10,500, and an expected residuat value of $7,300. Kimberly-Clark depreciates similar buildings on the straight-line method. 4. The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. 5. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Assume that on December 31, 2019, Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffield Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $67,299 beginning on December 31,2019. 2. The fair value of the building on December 31,2019 is $492.571. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $10,500, and an expected residuaf value of $7,300. Kimberly-Clark depreciates similar buildings on the straight-line method. 4. The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. 5. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. Click here to view factor tables. (For calculation purposes, use 5 decimal places as disployed in the foctor table provided.) (To record first lease payment) (To record amortization of the right-of-use asset) (To record interest expense) (To record amortization of the rinht-of-uce aeeet ) . Assume that on December 31, 2019. Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffeld Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $67,299 beginning on December 31,2019. 2. The fair value of the building on December 31,2019 is $492,571. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $10,500, and an expected residuat value of $7,300. Kimberly-Clark depreciates similar buildings on the straight-line method. 4. The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. 5. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. Click here to view factor tables. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)