booker co manufactures equiment that is sold or leased. on jan 1 year 1 booked leased equipment to zaya for a 6 year period. the lease was properly classified by Booker as a sales type lease. Equal payments under the lease at $50,000 and are due on December 31 of each year. The first payment was made on December 31, Year 1. The normal sales price of the equipment is $220,000, and cost us $200,000. What amount of selling profit should Booker recognize at thr commencement of the lease?