On December 31, 2024, Perry Corporation leased equipment to Admiral Company for a five-year perlod. The annual lease payment, excluding nonlease components, is $43,000. The Interest rate for this lease is 12%. The payments are due on December 31 of each year. The first payment was made on December 31, 2024. The normal cash price for this type of equipment Is $145,000 while the cost to Perry was $122,000. For the year ended December 31 , 2024, by what amount will Perry's earnings Increase due to this lease (Ignore taxes)? Multiple Choice $33,000 $23,000 $36,000 $13,000