Davidson, Incorporated leased a machine from Barwick Corporation. Barwick completed construction of the machine on January $1$ of the current year. The lease agreement for the $$6,000,000($fair value and present value of the lease payments$)$ machine specified $4$ equal payments at the end of each year. The useful life of the machine was expected to be $4$ years with no residual value. Barwick$$s implicit interest rate was $9\%.$

Required:

Determine the amount of each lease payment using Excel's PMT function.

Prepare the journal entry for Davidson, Incorporated at the beginning of the lease.

Prepare an amortization schedule for the $4-$year term of the lease.

Record the first lease payment on December $31.$

Record the amortization of right$-$of$-$use asset on December $31.$

Indicate the amounts related to the lease reported on the year$-$end balance sheets and income statements.

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When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. please show the excel formulas. For the amount of each lease payment or requirenment $1$ I got $$1,852,012,$ but when I check my work it says it's incorrect.