On January $1,$ Forester Inc. entered into a twelve$-$year lease agreement for copying equipment with a fair value of $$375,000$ requiring annual lease payments at the end of each year. The leased equipment has a useful life of $10$ years.

A$)$ If the implicit interest rate on the lease is eight percent, what is the amount of each annual lease payment?

B$)$ Assuming that the lease is accounted for as a finance lease, what financial effects will be recorded on Forester Inc.$$ income statement with regard to the lease during the first year ending December $31?$ Assume straight$-$line depreciation.