can someone please explain how they got these answers thanks so much.

Multiple Choice Questions 1. CDE leased equipment from HIJ on December 31, 20x11, for a 10-year period (also the useful life of the asset). Equal annual payments under the lease are $30.000 and are due on December 31 of each year. The first payment was made on December 31, 20x11, and the second payment was made on the next due date December 31, 20X12. The present value at December 31, 20x11, of the minimum lease payments over the lease term discounted at 10 percent (the implicit rate computed by HIJ and known by CDE) was $202,771. The lease is appropriately accounted for as a finance lease by CDE. What would be the interest expense on the lease liability for the fiscal year ended on December 31, 2012? A. $20,277 B. $17,772 C $30,000 D. $17,277 20277.1 3000 2. Based on the information in question 1, what should be the balance in CDE's liability under finance lease account at December 31, 20x12 (after the second payment was made)? A. $191,098 B. $172,771 C. $190,048 D. $220,048 E. $300,000 160,048 D046 (202,771-30,000 17 272+17 196,040 3. Based on the information in question 1, what is the current portion of the long-term lease liability? AX$22,320 B. $27,256 But 30,ooo-190048 xoon C. $22,744 D. $26,680 - 10999 E. $ 23,320 U None of the above 4. ABC signed a 5-year operating lease agreement whereby WXY Rentals will provide a truck which cost WXY $20,000. The lease payments are $2,500, payable at the end of each year. The truck has a 10-year useful life. At the inception of the lease, ABC should: A make no journal entry. B. record rental expense of $2,500 for the first year's rental. C. record the leased asset at its current market value. D. record the asset at the present value of the five equal annual lease payments. 5. For a finance lease, the present value of the minimum lease payments during the lease term should be recorded by the lessee as a(n): A. expense. B. asset but not a liability. C. liability but not an asset. (D) asset and a liability