Blossom Corp. is a manufacturer of truck trailers. On January 1, 2025, Blossom leased ten trailers to Splish Company under a six-year noncancelable lease agreement. The following information about the lease and the trailers is provided: 1. Equal annual payments that are due on January 1 each year provide Blossom with an 8% return on net investment (the present value factor on an annuity due for 6 periods at 8% is 4.99271). The first payment will be made January 1,2025. 2. Titles to the trailers pass to Splish at the end of the lease. 3. The fair value of each trailer is $57,000. The cost of each trailer to Blossom is $51,300. Each trailer has an expected useful life of nine years. 4. Collectibility of the leabe payments is probable. Click here to viow factor tables