Metlock Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it to Bonita Medical Center for a period of 10 years. The normal selling price of the machine is $467,891, and its guaranteed residual value at the end of the non-cancelable lease term is estimated to be $12,000. The hospital will pay rents of $56,800 at the beginning of each year. Metlock incurred costs of $271,000 in manufacturing the machine and $13,900 in legal fees directly related to the signing of the lease. Metlock has determined that the collectibility of the lease payments is probable and that the implicit interest rate is 5%. Bonita Medical Center has an incremental borrowing rate of 5% and an expected residual value at the end of the lease of $10,000. Click here to view factor tables. Prepare a 10-year lease amortization schedule. (Round answers to O decimal places e.g. 5,275.) BONITA MEDICAL (Lessee) Lease Amortization Schedule (Annuity Due Basis, GRV) Interest on Reduction of Lease Unpaid Liability Liability zinning F Year Annual Lease Payment Plus GRV Lease Liability ial PV $ 0 $ 0 $ 0 ta 1 56800 0 56800 2 56800 3 56800 4 56800 5 56800 6 56800 7 56800 8 56800 zinning F Year Annual Lease Payment Plus GRV Interest on Unpaid Liability Reduction of Lease Liability Lease Liability ial PV $ 0 $ 0 0 $ 1 56800 0 56800 2 56800 3 56800 4 56800 5 56800 6 56800 7 56800 8 56800 9 56800 10 56800 1 of 10 2000 $ 570000 $ 165048 $ 404952