Blossom Company manufactures a check-in kiosk with an estimated economic life of 12 years and leases it to Blue Airlines for a period of 10 years. The normal selling price of the equipment is $267,180, and its unguaranteed residual value at the end of the lease term is estimated to be $19,800. Blue will pay annual payments of $38,400 at the beginning of each year. Blossom incurred costs of $169,300 in manufacturing the equipment and $3,600 in sales commissions in closing the lease. Blossom has determined that the collectibility of the lease payments is probable and that the implicit interest rate is 10%. Blue Airlines has an incremental borrowing rate of 10%. Prepare a 10-year lease amortization schedule. (Round answers to decimal places eg. 58,970.) BLUE AIRLINES (Lessee) Lease Amortization Schedule (Annuity-due basis and URV) Interest on Reduction of Lease Lease Liability Liability 0 $ 0 Beginning of Year Lic Annual Lease Payment $ 0 Initial PV 1 38400 0 38400 2 38400 22878 15522 3 38400 21326 17074