On January 1, Y6, Aylmer decided to lease a machine. The accountant at the time did not know how to record this asset (the accountant did not take Intermediate Accounting 2 at Fanshawe!). NO TRANSACTIONS relating to leases were recorded. The following information pertains to the leased machine:  The lease term is 6 years and the economic life of the asset is 7 years.  The annual payment is $22,470. This payment includes annual executory costs (insurance) of $800. The remainder is the lease payment.  Interest rate associated with this lease is 7.2%. In the Excel spreadsheet, see the tab labelled "Leased Liability" to make the appropriate calculations and requirements for reconciling the lease information. Then prepare all the appropriate entries (including setup up the asset, the liability and any payments and interest)