Crane Corporation, which uses ASPE, leased equipment it had specifically purchased at a cost of $190,000 for Oriole, the lessee. The term of the lease is 15 years, beginning January 1,2023 , with equal rental payments of $28,255 at the beginning of each year. Oriole pays all executory costs directly to third parties. The equipment's fair value at the lease's inception is $190,000. The equipment has a useful life of 16 years with no residual value. The lease has an implicit interest rate of 15%, no bargain purchase option, and no transfer of title. Collectibility is reasonably assured, with no additional costs to be incurred by Crane. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the PV of the lease payments and prepare Crane's January 1. 2023 journal entries at the inception of the lease. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round factor values to 5 decimal places, e.s. 1.25124 and final answers to 0 decimal places, e.g. 5,275.)