Federated Fabrications leased a tooling machine on January 1, 2024, for a three-year period ending December 31, 2026. - The lease agreement specified annual payments of $48,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2025. - The company had the option to purchase the machine on December 30,2026 , for $57,000 when its fair value was expected to be $72,000, a sufficient difference that exercise seems reasonably certain. - The machine's estimated useful life was six years with no salvage value. Federated was aware that the lessor's implicit rate of return was 10%. \begin{tabular}{|c|c|c|c|c|c|} \hline 9 & December 31, 202 & Equipment & & 48,000 & \\ \hline & & Right-of-use asset & & & 72,000 \\ \hline \end{tabular} Record the entry to reflect the change from a leased asset to ownership of that asset. Note: Enter debits before credits