Help Save Ch Videos-to-Go signed a lease for a vehicle that had an expected economic life of eight years and a fair value of $19,900. The lessor is the leasing subsidiary of a national car manufacturer. The terms of the lease are as follows: The lease term begins on 1 January 20X2 and runs for five years. The lease requires payments of $6,000 each 1 January, including $1,800 for maintenance and insurance costs. At the end of the lease term, the lease is renewable for three one-year periods at $500 per year. The normal rental costs for a similar used vehicle would be approximately double this amount At the end of any lease term the vehicle reverts to the lessor Videos-to-Go does not know the interest rate implicit in the lease from the lessor's perspective but has an incremental borrowing rate of 7%. Videos -to-Go has a 31 December year-end and uses straight-line depreciation for all assets. (Round intermediate colculations and final answers to the neorest whole dollar amount) es (PV of $1. PVA of $1, and PVAD of $13 (Use appropriete foctor(s) from the tebles provided.) Required: 1. Prepare a lease liabity amortization schedule ease Amortizaion Schedde-Beginning of Lease Year Payments Ending Ealince inchDec) in Balance 1 Janbary Payment Opentng Belence infe Leose Yeat 20%2 20x3 20X4 3 of 4 Nexl