Bird leased equipment that had a retail cash selling price of $1,044,000 and a useful life of five years with no residual value. The lessor paid $957,000 to acquire the equipment and used an implicit rate of 11% when calculating annual lease payments of $225,000 beginning January 1, at the beginning of the lease. Incremental costs of negotiating and consummating the completed lease transaction incurred by the lessor were $12,000. What is the effect of the lease on the lessor's earnings during the first year (ignore taxes)? (Round your answer to nearest whole dollar amount) Multiple Choice O Increase in earnings by $189,090 O Decrease in camings by $177090 O Decrease in camnings by $114,840 O increase in earnings by $165.000