On January 1st 2023, Vadar Company leased a speeder from Solo Company. Information regarding the lease is as follows: Lease term 3 years Annual Payments Life of asset Vadar's borrowing rate and interest rate of lease Present value annuity due n=3i=8% Present value of ordinary annuity n=3i=8% REQUIRED: $40,000 payments due January 1st of each year beginning January 1st 2023 3 8% 2.7833 2.5771 MAKE ALL THE JOURNAL ENTRIES VADAR MAKES IN 2023 AND 2024 Use the value I have provided from the present value tables to avoid rounding issues Hint: Don't forget, lease payments occur January 1st of each year