Gradebook ORION Downloadable eTextbook Home Read, Study & Practice Assignment > Open Assignment CALCULAIOR MESSAGE MY INSIRUCIOR FULL SCREEN pRNTER VERSION BACK ASSIGNMENT RESOURCES Exercise 21A-15 a-b (Part Level Submission) Laura Leasing Company signs an agreement on January 1, 2017, to lease equipment to Marin Company. The following information relates to this agreement. The term of the non-cancelable lease is 3 years with no renewal option. The equipment has an estimated economic life of 5 years. 2. The fair value of the asset at January 1, 2017, Is $74,000 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a rasidual value of $3,000, none of which is guaranteed. xercise 21A-15 a Level Submis bmssion)4. The agreement requires equal annual rental payments of $24,716 to the lessor, beginning on January 1, 2017 S. The lessee's incremental borrowing rate is S%. The lessor's implicit rate is 4% and is unknown to the lessee. 6. Marin uses the straight-line depreciation method for all equi Review Results by (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) r (a) Prepare an amortization schedule that would be suitable for the lessee for the lease term. (Round answers to O decimal paces, eg, 5,265.) MARIN COMPANY (Lessee) Lease Amortization Schedule Reduction of Lease Annual Lease Liabilit Liabili Lease Liability All Rights Reserved. A DMsion of lohnmiex sonato Version 4.24.10 600 AM