On January 1, 2010, NATIONAL GAS has signed a 12-year lease agreement for an equipment. Annual payments are OMR 5,000 at the beginning of each year. At the end of the lease, the Lessee has the right to exercise BPO or BRO at the end of the lease agreement. The equipment has a useful life of 15 years and has no residual value. At the time of the lease agreement, the equipment has a fair value of OMR 50,000. An interest rate of 5% is paid and reducing balance depreciation method is used.

Required:

Prepare amortization table for 10 years if the PV of the minimum lease payments is OMR 48,000.