Do I need tocalculate theinterest rate since the ovens were rented on the 31st?

Should I:

Credit Rent Expense $20,000

Debit Depreciation $20,000

Six ovens were rented on December 31, with $20,000 charged to rent expense. The lease runs for 6 years with an implicit interest rate of 5%. At the end of the 6 years, Peyton will own them. Make any necessary adjusting entries.