Kubby entered a contract to ey Inc. for years when that particular storage unit had a remaining useful life of 5 years. The fair value at the commencement of the lease on January 1. 2017. The present value of the five equal rental payments ear, plus the present value of a guaranteed residual value of $1,000, equals the fair vaof 510,00, . by Company special of the unit was $10,000 of $2,507 Kubby's im commencement at the start of each implicit rate of return on the lease of 6% The following is a correct, complete amor tization schedule created by Kubby