On 1 July 2020, Eagle Ltd (a reporting entity in Australia) entered into a lease agreement for a machine with the following terms: Duration of lease 6 years Economic life of 7 years machine Unguaranteed $80,000 residual value Lease payments Six annual payments of $20,000 at the beginning of each year, with the first payment required on 1 July 2020 Implicit interest 3% rate Initial direct legal $10,000 costs You are provided with the following Present Value Tables: Present Value of $1 Periods (n) Rate of interest % 2% 3% 4% 5 0.906 0.863 0.822 6 0.888 0.837 0.790 7 0.871 0.813 0.760 Present Value of Annuity in Arrears of $1 Periods (n) Rate of interest % 2% 3% 4% 5 4.713 4.580 4.452 6 5.604 5.417 5.242 7 6.472 6.230 6.002 Required: a). Calculate the carrying amount of lease liability as at 30 June 2021. Show all workings. b). Calculate the carrying amount of lease asset as at 30 June 2021. Show all workings