On 1 July 2020, Copacabana Ltd leased an executive jet commercial from AirFinance Ltd, a finance company. The lease agreement contained the following provisions: Lease term (years) 7 Economic life of equipment (years) 8 Annual rental payment, in arrears (Commencing 30/6/21) $ 1,000,000 Residual guaranteed by the lessee $ 1,500,000 Interest rate implicit in the lease 7% The first lease payment was made on 30 June 2021. Required (a) Prepare the lease payments schedule for Copacabana Ltd (show all workings) - 17 marks (b) Prepare the journal entry for the lease payment at 30 June 2022. (4 marks) (c) Prepare the journal entry for depreciation expense for the year ended 30 June 2022. (4 marks)