Crane Leasing Company leases a new machine to Cullumber Corporation. The machine has a cost of $$65,000$ and fair value of $$85,500.$ Under the $3-$year, non$-$cancelable contract, Cullumber will receive title to the machine at the end of the lease. The machine has a $3-$year useful life and no residual value. The lease was signed on January $1,2025.$ Crane expects to earn an $8\%$ return on its investment, and this implicit rate is known by Cullumber. The annual rentals are payable on each December $31,$ beginning December $31,2025.$

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$($b$)$

Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided and round final answers to $0$ decimal places e$.$g$.5,275.$

$\backslash$table$[[$Date$,$Rent Receipt$/$ Payment,$\backslash$table$[[$Interest $(8\%)$ Revenue$/],[$Expense$]],$Reduction of Principal,Receivable$/$ I$],[\frac{1}{1}\frac{?}{25},$$$,$$$,$$$,$$