Jupiter Corp. leases a rocket-themed amusement ride with a fair value of $110,000 on the following terms:

Noncancelable term of 10 years.

Rental of $16,000 per year (at the end of each year). The present value at 10% per year is $98,313.

Estimated residual value after 10 years is $10,000. The present value at 10% per year is $3,855.

Jupiter Corp. guarantees the residual value of $10,000.

Estimated economic life of the ride is 12 years.

Jupiters incremental borrowing rate is 10% a year. The lessors implicit rate is unknown.

1.) Create an Amortization Schedule