Lewin Brokerage enters into a lease agreement with Bumbie Motors to lease an automobile with a value of 578 000 under a year lease on December 20, 2018. The lease commences on January 1, 2019 and Lewin will return the automobile to Bumble on December 31, 2023 The automobile has an estimated use of 7 years Lewin made a lease payment of $10.500 on December 20, 2018 In addition the lease agreemen t s annual payments of 510 600 due on January 2019 2020 2021 2022 and 2023 The implicite of these is 7% and is known by Lewin There is no purchase option no lease incentives no residual value guarantees and no transfer of ownership Leewin incursis direct costs of $1600 Compute the presentate of the lease payments in order to determine if the lease meets the fourth Group I rion Calculate the present value of each payment individualy Assuming that this is classified as an operating lease what is the value of the right-of-use asset at the lease's commencement? DA 43.462 OB S 104 OC. 558704 OD 545,052 Lorvin Brokerage enters into a lease agreement with Buble Motors to lease an automobile with a fair value of $71 000 under a 5-year lease on December 20, 2018 The lease commences on January 1 2019, and Lewin will return the automobile to Bumble on December 31, 2023 The automobile has an estimated us e of 7 years Lewin made a lease payment of $10,700 on December 20, 2018 In addition, the lease agreement stipulates anual payments of $10,700, due on January 1 of 2019 2020 2021 2022 and 2023 The implicate of the leases and is known by Lewin There is no purchase option, no lease incentives no residual value guarantees, and no transfer of ownership Loewin incurs initial direct costs of 52 000 Assuming that this is classified as an operating lease. what is the annual lease expense reported on the income statement O A $11,100 OB. $12.700 OC 510,700 OD 513.240