Leasehold Improvements and Advance Payment Use the table below to select the appropriate discount factors for Part 1 and Part 2: Periods: Interest Rates 4 periods: 696 5 periods: 696 6 periods: 696 PV of a Single Sum 0.79209 0.74726 0.70496 PV of Ordinary Annuity 3.46511 4.21236 4.91732 PV of an Annuity Due 3.67301 4.46511 5.21236 Part 1: On January 1, Year 8. Leopard Inc. leased retail mall space under an operating lease agreement. The arrangement required four annual rent payments of $125,000 each, beginning December 31. Year 8, and at each December 31 through the end of the lease term. Leopard Inc paid an advance payment of $100.000 at lease commencement. The lessor, Steamboat Leasing, typically finances rental space at an annual interest rate of 6%. Leopard Inc. made improvements to the mall space at a cost of $250,000 prior to opening its doors. The estimated life of the leasehold improvements was estimated to be 6 years with no residual value. Complete the partial amortization table provided below by entering the appropriate dollar amounts in the cells indicated rounded to the nearest whole dollar. If the amount is 50, you must enter "O" in the cell to receive credit Enter all amounts as positive values. Payment Date Cash Payment Interest Expense Component Principal Reduction Outstanding Balance Jan. 1. Year 8 023 123 Jan. 1. Year 8 20 23 Dec. 31. Year 8 120 123 Dec 31, Year 9