Ivanhoe Corp. agreed to lease property from Concord Corp. effective January 1, 2020. for an annual payment of $27,482. beginnines January 1.2020. The property is made up of land with a fair value of $114,000 and a two-storey office building with a tair value of $170.000 and a useful life of 25 years with no residual value. The implicit interest rate is. 9.5%, the lease term is 25 years, and titie to the property will not be transferred to Ivanhoe by the end of the lease term. Assume that there is also no bargain purchase option, but that the lease does meet other criteria to qualify as a capital lease. Both Ivanhoe and Concord use ASPE. Prepare the required entries made by Ivanhoe Corp, on January 1, 2020, and at its year end of December 31, 2020. (Credit acrount tities are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the aconurt titles and enter of for the amounts. Round answers to Odecimal places, es. 5.275. (To record inception of lene).) Ian1 (Torecord hist lease payment.) (To record interest) (Torecord depreciation eqpense) book and Media