on january $1,2025$ cheyenne company contracts to lease equipment for $5$ years, agreeing to make a payment of $$117027$ at the beginning of each year, starting january $1,2025.$ the leased equipment is to be capitalized at $532000.$ the asset is to be amortized on a double$-$declining$-$basis, and the obligation is to be reduced on an effective$-$interest basis. cheyenne's incremental borrowing rate is $6\%$ and the implicit rate in the lease is $5\%$ which is known by cheyenne. title to the equipment transfers to cheyenne at the end of the lease. the asset has an estimated useful life of $5$ years and no residual value.

prepare the journal entries to record amortization of the leased asset and interest expense for the year $2025.$

december $31,2025$

amortization expense $212800$

right$-$of$-$use asset $212800$

december $31,2025$

interest expense $?$

lease liability $?$