Hani Corp. is a manufacturer of truck trailers. On January 1, 2019, Hani Corp. leases ten trailers to Luay Company under a six-year noncancelable lease agreement. The following information about the lease and the trailers is provided: of estion Fini Timi Equal annual payments that are due on December 31 each year provide Hani Corp. with an 8% return on net investment (present value factor for 6 periods at 8% is 4.62288). 2 Titles to the trailers pass to Lester at the end of the lease. 3. The fair value of each trailer is $50,000. The cost of each trailer to Hani Corp. is $45,000. Each trailer has an expected useful life of nine years. Instructions (a) Calculate the annual lease payment. (Round to nearest dollar.) (6) Prepare a lease amortization schedule for Hani Corp. for the first three years. (c) Prepare the journal entry for the lessor for 2011 to record the lease agreement