I'm not looking for just the answer but the steps to figuring it out in the future

At the beginning of its fiscal year, Caf Med leased restaurant space from Crescent Corporation under a eight-year lease agreement. The contract calls for annual lease payments of $33,000 each at the end of each year. The building was acquired recently by Crescent at a cost of $380,000 (its fair value) and was expected to have a useful life of 25 years with no residual value. The company seeks a 9% return on its lease investments. What will be the effect of the lease on Caf Med's earnings for the first year (ignore taxes)