Could you show me how to solve this problems with steps please.

On January 1, 2017, Beard Company purchased a machine for $620,000. The machine is expected to have a 10-year life, no residual value, and will be depreciated by the straight-line method. On January 1, 2017, it leased the machine to Child Company for a three-year period at an annual rental of $128,000 to be paid at the end of each year. Beard could have sold the machine for $817,298 instead of leasing it. Child does not know the implicit rate in the lease, but it has an incremental rate of 9%. Child Company has a December 31 reporting year. It adopted early the provisions of ASC 842 on January 1, 2017. Use tables (PV of 1, PVAD of 1, and PVOA of 1) (Use the appropriate factor(s) from the tables provided. Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Required: 1. What type of lease is this for Child Company? 2. What are the amounts of the right-of-use asset and lease liability that Child Company should report on its balance sheet at December 31, 2017? 3. How much rent expense should Child Company recognize in 2017? 1. The lease for Child Company is a(n) Right-of-use asset Lease obligation 3. Rent expense TABLE 1 Present Value of $1 PV = a tox = (1 + r)" (n) Periods 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 16% 17% 0.98039 0.97087 0.96154 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.86957 0.86207 0.85470 0.96117 0.94260 0.92456 0.90703 0.89000 0.87344 0.85734 0.84168 0.82645 0.81162 0.79719 0.75614 0.74316 0.73051 0.94232 0.91514 0.88900 0.86384 0.83962 0.81630 0.79383 0.77218 0.75132 0.73119 0.71178 0.65752 0.64066 0.62437 0.92385 0.88849 0.85480 0.82270 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.57175 0.55229 0.53365 0.90573 0.86261 0.82193 0.78353 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.49718 0.47611 0.45611 0.88797 0.83748 0.79031 0.74622 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.43233 0.41044 0.38984 0.87056 0.81309 0.75992 0.71068 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.37594 0.35383 0.33320 0.85349 0.78941 0.73069 0.67684 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.32690 0.30503 0.28478 0.83676 0.76642 0.70259 0.64461 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.28426 0.26295 0.24340 0.82035 0.74409 0.67556 0.61391 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.24718 0.22668 0.20804 0.80426 0.72242 0.64958 0.58468 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.21494 0.19542 0.17781 0.78849 0.70138 0.62460 0.55684 0.49697 0.44401 0.39711 0.35553 0.31863 0.28584 0.25668 0.18691 0.16846 0.15197 0.77303 0.68095 0.60057 0.53032 0.46884 0.41496 0.36770 0.32618 0.28966 0.25751 0.22917 0.16253 0.14523 0.12989 0.75788 0.66112 0.57748 0.50507 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.14133 0.12520 0.11102 0.74301 0.64186 0.55526 0.48102 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.12289 0.10793 0.09489 0.72845 0.62317 0.53391 0.45811 0.39365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.10686 0.09304 0.08110 0.71416 0.60502 0.51337 0.43630 0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.09293 0.08021 0.06932 0.70016 0.58739 0.49363 0.41552 0.35034 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.08081 0.06914 0.05925 0.68643 0.57029 0.47464 0.39573 0.33051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.07027 0.05961 0.05064 0.67297 0.55368 0.45639 0.37689 0.31180 0.25842 0.21455 0.17843 0.14864 0.12403 0.10367 0.06110 0.05139 0.04328 0.60953 0.47761 0.37512 0.29530 0.23300 0.18425 0.14602 0.11597 0.09230 0.07361 0.05882 0.03038 0.02447 0.01974 0.55207 0.41199 0.30832 0.23138 0.17411 0.13137 0.09938 0.07537 0.05731 0.04368 0.03338 0.01510 0.01165 0.00900 0.50003 0.35538 0.25342 0.18129 0.13011 0.09366 0.06763 0.04899 0.03558 0.02592 0.01894 0.00751 0.00555 0.00411 0.45289 0.30656 0.20829 0.14205 0.09722 0.06678 0.04603 0.03184 0.02209 0.01538 0.01075 0.00373 0.00264 0.00187 TABLE 3 Present Value of an Annuity Due of $1 PVAD = 1+(1- (+) -syr (n) Periods 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 16% 17% 1.00000 1.98039 2.94156 3.88388 4.80773 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.97087 1.96154 1.95238 1.94340 1.93458 1.92593 2.91347 2.88609 2.85941 2.83339 2.80802 2.78326 3.82861 3.77509 3.72325 3.67301 3.62432 3.57710 4.71710 4.62990 4.54595 446511 4.38721 4.31213 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.91743 1.90909 1.90090 1.89286 1.86957 1.86207 1.85470 2.75911 2.73554 2.71252 2.69005 2.62571 2.60523 2.58521 3.53129 3.48685 3.44371 3.40183 3.28323 3.24589 3.20958 4.23972 4.16987 4.10245 4.03735 3.85498 3.79818 3.74324 5.71346 5.57971 5.45182 5.32948 5.21236 5.10020 4.99271 4.88965 4.79079 4.69590 4.60478 4.35216 4.27429 4.19935 6.60143 6.41719 6.24214 6.07569 5.91732 5.76654 5.62288 5.48592 5.35526 5.23054 5.11141 4.78448 4.68474 4.58918 7.471997.23028 7.00205 6.78637 6.58238 6.38929 6.20637 6.03295 5.86842 5.71220 5.56376 5.16042 5.03857 4.92238 8.32548 8.01969 7.73274 7.46321 7.20979 6.97130 6.74664 6.53482 6.33493 6.14612 5.96764 5.48732 5.34359 5.20716 .16224 8.78611 8.43533 8.10782 7.801697 .51523 7.24689 6.99525 6.75902 6.53705 6.32825 5.77158 5.60654 5.45057 10 9 ell-omen onwag = 9929 95408 ago 12 13 9.98259 9.53020 9.11090 8.72173 8.360098.02358 7.71008 7.41766 7.14457 6.88923 6.65022 6.01877 5.83323 5.65860 10.78685 10.25262 9.76048 9.306418.88687 8.49867 8.13896 7.80519 7.49506 7.20652 6.93770 6.23371 6.02864 5.83641 11.57534 10.95400 10.38507 9.86325 9.38384 8.942698.53608 8.16073 7.81369 7.49236 7.19437 6.42062 6.19711 5.98839 12.34837 11.63496 10.98565 10.39357 9.85268 9.35765 8.90378 8.48690 8.10336 7.74987 7.42355 6.58315 6.34233 6.11828 13.10625 12.29607 11.56312 10.89864 10.29498 9.745479.24424 8.78615 8.36669 7.98187 7.62817 6.72448 6.46753 6.22930 15 17 18 19 20 13.84926 12.93794 12.11839 11.37966 10.71225 10.107919.55948 9.060698.60608 8.19087 7.81086 6.84737 6.57546 6.32419 14.57771 13.56110 12.65230 11.83777 11.10590 10.44665 9.85137 9.31256 8.82371 8.37916 7.97399 6.95423 6.66850 6.40529 15.29187 14.16612 13.16567 12.27407 11.47726 10.76322 10.12164 9.54363 9.02155 8.54879 8.11963 7.04716 6.74870 6.47461 15.99203 14.75351 13.65930 12.68959 11.82760 11.05909 10.37189 9.75563 9.20141 8.70162 8.24967 7.12797 6.81785 6.53385 16.67846 15.32380 14.13394 13.08532 12.15812 11.33560 10.60360 9.95011 9.36492 8.83929 8.36578 7.19823 6.87746 6.58449 25 19.91393 17.93554 16.24696 14.79864 13.55036 12.46933 11.52876 10.70661 9.98474 9.34814 8.78432 7.43377 7.07263 6.74649 22.84438 20.18845 17.98371 16.14107 14.59072 13.27767 12.15841 11.19828 10.36961 9.65011 9.02181 7.55088 7.16555 6.82039 25.49859 22.13184 19.41120 17.19290 15.36814 13.85401 12.58693 11.51784 10.60857 9.82932 9.15656 7.60910 7.20979 6.85409 27.90259 23.80822 20.58448 18.01704 15.94907 14.26493 12.87858 11.72552 10.75696 9.93567 9.23303 7.63805 7.23086 6.86946 35 40 TABLE 2 Present Value of an Ordinary Annuity of $1 PVOA = (1- a tomar Periods 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 16% 17% 0.98039 1.94156 2.88388 3.80773 4.71346 0.97087 0.96154 1.91347 1.88609 2.82861 2.77509 3.71710 3.62990 4.57971 4.45182 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.86957 0.86207 0.85470 1.85941 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.62571 1.60523 1.58521 2.72325 2.67301 2.62432 2.57710 2.53129 2.48685 2.44371 2.40183 2.28323 2.24589 2.20958 3.54595 3.46511 3.38721 3.31213 3.23972 3.16987 3.10245 3.03735 2.85498 2.79818 2.74324 4.32948 4.21236 4.10020 3.99271 3.88965 3.790 79 3.69590 3.60478 3.35216 3.27429 3.19935 5.60143 6.47199 7.32548 8.16224 8.98259 5.41719 5.24214 5,07569 4.91732 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 3.68474 3.58918 6.23028 6.00205 5.78637 5.58238 5.38929 5.20637 5.03295 4.86842 4.71220 4.56376 4.16042 4.03857 3.92238 7.01969 6.73274 6.46321 6.20979 5.97130 5.74664 5.53482 5.33493 5.14612 4.96764 4.48732 4.34359 4.20716 7.78611 7.43533 7.10782 6.80169 6.51523 6.24689 5.99525 5.75902 5.53705 5.32825 4.77158 4.60654 4.45057 8.53020 8.11090 7.721737.36009 7.02358 6.71008 6.41766 6.14457 5.88923 5.65022 5.01877 4.83323 4.65860 9.78685 9.25262 8.76048 8.30641 7.88687 10.57534 9.95400 9.38507 8.86325 8.38384 11.34837 10.63496 9.98565 9.39357 8.85268 12.10625 11.29607 10.56312 9.89864 9.29498 12.84926 11.93794 11.11839 10.37966 9.71225 7.49867 7.13896 6.80519 6.49506 6.20652 5.93770 5.23371 5.02864 4.83641 7.94269 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 5.19711 4.98839 8.35765 7.90378 7.48690 7.10336 6.74987 6.42355 5.58315 5.34233 5.11828 8.74547 8.24424 7.78615 7.36669 6.98187 6.62817 5.72448 5.46753 5.22930 9.10791 8.55948 8.06069 7.60608 7.19087 6.81086 5.84737 5.57546 5.32419 14 15 13.57771 12.56110 11.65230 10.83777 10.10590 9.44665 8.85137 8.31256 7.82371 7.37916 6.97399 5.95423 5.66850 5.40529 14.29187 13.16612 12.16567 11.27407 10.47726 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 6.04716 5.74870 5.47461 14.99203 13.75351 12.65930 11.68959 10.82760 10.059099.37189 8.75563 8.20141 7.70162 7.24967 6.12797 5.81785 5.53385 15.67846 14.32380 13.13394 12.08532 11.15812 10.33560 9.60360 8.95011 8.36492 7.83929 7.36578 6.19823 5.87746 5.58449 16.35143 14.87747 13.59033 12.46221 11.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 6.25933 5.92884 5.62777 19.52346 17.41315 15.62208 14.09394 12.78336 11.65358 10.67478 9.82258 9.07704 8.42174 7.84314 6.46415 6.09709 5.76623 22.39646 19.60044 17.29203 15.37245 13.76483 12.40904 11.25778 10.27365 9.42691 8.69379 8.05518 6.56598 6.17720 5.82939 24.99862 21.48722 18.66461 16.37419 14.49825 12.94767 11.65457 10.56682 9.64416 8.85524 8.17550 6.61661 6.21534 5.85820 27.35548 23.11477 19.79277 17.15909 15.04630 13.33171 11.92461 10.75736 9.77905 8.95105 8.24378 6.64178 6.23350 5.87133