Pharoah Company, a dealer in machinery and equipment, leased equipment to Sanids, Inc. on July 1, 2021. The lease is appropriately accounted for as a sales type lease by Pharoah and as a finance lease by Sands. The lease is for a 10-year period the useful life of the asset) expiring June 30, 2031. The first of 10 qual annual payments of 5748000 was made on July 1.2021. Pharoah had purchased the equipment for $4850000 on January 1, 2021, and established a list selling price of $6800000 on the equipment Assume that the present value at July 1, 2021, of the rent payments over the lease term discounted at 8% (the appropriate interest rate) was $5421000 Assumine that Sonds, Inc. uses traithe line depreciation what is the amount of amortization and interest expense that Sands should record for the year ended December 31, 2017 O $271050 and $216840 O $3400000 and 5186920 5.3400000 and 5156000 $271050 and 5186920