Merrill Corporation, which uses ASPE, enters into a six-year lease of equipment on September 1, 2023, that requires six annual payments of $28,000 each, beginning September 1, 2023. In addition, Merrill guarantees the lessor a residual value of $17,000 at lease end. The equipment has a useful life of seven years. (a) Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the capital lease and prepare Merrills September 1, 2023 journal entry, assuming an interest rate of 9%. Round amounts to the nearest dollar. (b) Assume instead that Merrill follows IFRS and that the amount expected to be paid under the residual value guarantee is $10,000. Calculate the amount of the right-of-use asset and prepare Merrills September 2023 journal entries, assuming an interest rate of 9%. Round amounts to the nearest dollar. BE20.12 (LO 6) Use the information for Merrill Corporation from BE20.11. Assume that a residual value of $17,000 is expected at the end of the lease, but that Merrill does not guarantee the residual value. Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the capital lease. Prepare Merrills September 1, 2023 journal entry, assuming an interest rate of 9% and that Merrill also uses ASPE. Round amounts to the nearest dollar.