Harmeling Paint Ball (HPB) Corporation needs a new air compressor that costs $80,000. HPB will need it for only 3 years even though the compressor's economic life is long enough so that the lease is an operating lease. The firm can lease the compressor for 3 years with $15,000 lease payments at the end of each year. HPB's cost of debt is 12%. Answer the following questions. (Hint: See Table 19-1.)

a.What is the initial lease liability that must be reported on the balance sheet?

b.What is the initial right-of-use asset?

c.What will HPB report as the Year-1 lease expense?

d.What is the Year-1 imputed interest expense?

e. What lease liability must be reported at Year 1?

f. What right-of-use asset must be reported at Year 1?

answers below but I need to show work- if at all possible make it easy enough to copy and paste on excel

a.$36,027.47. b.$36,027.47. c.$15,000. d.$4,323.30. e.$25,350.77. f.$25,350.77.