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help please! A lease agreement that qualifies as a finance lease calls for annual lease payments of $20,000 over a five-year lease term (also the

help please!
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A lease agreement that qualifies as a finance lease calls for annual lease payments of $20,000 over a five-year lease term (also the asset's useful iffe), with the first payment at January 1, the beginning of the lease. The interest rate is 5%. (FV of \$1. PV of \$1. EVA of \$1. PVA of \$1. EVAD of \$1 and PVAD of \$1) (Use approprlate factor(s) from the tables provided.) Required: a. Determine the present value of the lease upon the lease's inception. b. If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the first year ended December 31 (ignore taxes)? Complete this question by entering your answers in the tabs below. If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the first year ended December 31 ? (Round your answers to nearest whole number.)

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