On 31 December 20X0, Columbia Inc. entered into an agreement with Scotia Ltd. to lease equipment with a useful life of 6 years. Columbia Inc. will make four equal payments of $107,000 at the beginning of each lease year. Columbia Inc. anticipates that the equipment will have a residual value of $86,400 at the end of the lease, net of removal costs. Columbia Inc. has the option of extending the lease by (1) paying $86,400 to retain the equipment or (2) allowing Scotia Ltd. to remove it. Scotia Ltd.'s implicit interest rate in this lease is 7%. Columbia Inc.'s incremental borrowing rate is 8%. Columbia Inc. depreciates the leased equipment on a straight-line basis. The lease commences on 1 January 201. Assume that the fair value of the equipment on the open market is greater than the present value of the lease payments. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare an amortization table for this lease from the perspective of the lessor. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Amortization Table Beginning Lease Period Interest Balance Net Lease Payment Beg. of Year Incr/(Decr) in Balance Ending Balance 20X1 $ 0 20X2 20X3 20X4 20X5 0