Chapter 15 Saved Help Save& Exit Check myw 3 On January 1, Espinoza Moving and Storage leased a truck for a four-year period, at which time possession of the truck will revert back to the lessor. Annual lease payments If Espinoza's revenues exceed a specified amount during the lease term, Espinoza will pay an additional $4,000 lease payment at the end of the lease. Espinoza estimates a 60 % probability of meeting the target revenue amount. are $10,000 due on December 31 of each year, calculated by the lessor using a 5% discount rate. 10 points What amount should be added to the right-of-use asset and lease liability under the contingent rent agreement? (FV of $1, PV of $1 FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) eBook Amout to be added Print References