Liza Corporation sold a building and immediately leased it back. The following data pertain to the sale and leaseback transaction. Sales price at above fair value 9,000,000 Fair value of the building 8,000,000 Carrying amount of the building 7.200.000 Annual rental payable at the end of each year 600.000 Remaining life of building 20 years Lease term 4 years Implicit interest rate 12% Present value of an ordinary annuity of 1 @ 12% for four periods 3.037 What is the cost of right of use asset? What is the gain on right transferred to buyer-lessor? What is the annual rental income of the buyer-lessor