Ivar Company leased a machine from Astrid Leasing Company. The lease is for 4 years. The life of the asset is 5 years. The terms of the lease require 4 payments of $100,000 at the beginning of the year, beginning on January 1, 2019. The lease is non-cancelable. Ivar’s incremental borrowing rate is 8% and does not know Astrid’s 6% rate of return. There is a guaranteed residual value of $15,000 at the end of year 4. At the end of year 4, the equipment is worth $10,000. Ivar also assumes property tax expense of $1,000 per year paid to Astrid with the lease payment. The lease is a direct financing lease. You will need the tables from Chapter 6. For Astrid, a. Prepare an amortization schedule for the lease receivable. On the books of Astrid, b. Record the inception of the lease and receipt of the first payment on January 1, 2019. c. Record the last payment in year 4 and the return of the equipment if necessary.