On December 31, 2018, Perry Corporation leased equipment to Admiral Company for a five-year period. The annual lease payment, excluding nonlease components, is $46,000. The interest rate for this lease is 13%. The payments are due on December 31 of each year. The first payment was made on December 3 20 18 Tenor a cash price for this type of equipment is $135,000 while the cost to Perry was $100,000. For the year ended December 31, 2018, by what amount will Perry's earnings increase due to this lease (ignore taxes)? Multiple Choice $45,000. $48,000. $25,000 $35,000