Grouper Corporation entered into a lease agreement on January 1, 2017 to provide Sheridan company with a piece of machinery. The terms of the lease agreement were as follows. 1. The lease is to be for 3 years with rental payments of $12.800 to be made at the beginning of each year 2. The machinery has a fair value of $62.000, a book value (depreciable base for the lessor of $40.000, and an economie life of years, 3. At the end of the lease term both parties expect the machinery to have a residual value of $25.000 none of which is uaranteed 4. The lease does not transfer ownership at the end of the lease term.does not have a bargain purchase option, and the asset is not of a specialized nature 5. The implicitrate is 6%, which is known by Dawkins 6. Collectibility of the payments is probable Click here to view the factor table (b) Prepare the amortization schedules Sheridan will use over the lease term. SHERIDAN COMPANY Lease Amortization Schedule Annuity-Due Basis Interest Reduction of on Liability Lease Liability Annual Payment Lease Liability Date 1/1/17 1/1/17 $ 1/1/18 1/1/19 List of Accounts Atte Sorter