Blue Corporation entered into a lease agreement on January 1,2020, to provide Crane Company with a piece of machinery. The terms of the lease agreement were as follows. 1. The lease is to be for 3 years with rental payments of $9,445 to be made at the beginning of each year. 2. The machinery has a fair value of $58,200, a book value of $48,000, an end-of-life salvage value of $0, and an economic life of 8 years. 3. At the end of the lease term, both parties expect the machinery to have a residual value of $40,700, none of which is guaranteed. 4. The lease does not transfer ownership at the end of the lease term, does not have a bargain purchase option, and the asset is not of a specialized nature. 5. The implicit rate is 5%, which is known by Crane. 6. Collectibility of the payments is probable. 7. Assume that the lessor uses straight-line depreciation. Prepare the amortization schedules Crane will use over the lease term