BF20.11 (LO 6) Excel Merrill Conporation, which vises ASPE, enters into a six-year lease of equipment on September 1, 2023, that requires six annual paymeats of $28,000 eich, beginning September 1, 2023, In addition, Mernill gunantees the lestor a residual value of $17,000 at lense end. The equipenent has a useful life of seven years. (a) Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculite the amount of the capital lease and prepare Merrill's September 1, 2029 joumal entry, assuming an iaterest rate of 9%. Round anounts to the nesrest dollar. (b) Ascame instend that Merrill follows IFRS and that the amount expected to be paid under the residas valoe guarantee is $10,000. Calculate the amount of the right-of-use asset and prepare Merrills September 2023 journal entrics, assuming an interest rate of 9%. Round amounts to the nearest dollar. 5olution