please answer 12,13,14, i need it in 1 hour thank youuuu

1 point 12. Louis Company leased a machine from Millennium Corporation on January 1, 2010. The first annual payment was made on January 1, 2011. The machine has an economic life of six years. The lease agreement requires four annual payments of P33,000, including P3,000 annual payment for repairs and maintenance. The machine will be returned to Millennium Corporation at the end of the lease term and Louis Company guarantees a residual value of P5,000. Interest implicit in the lease is 10%, which is known to Louis. If Millennium Corporation recorded the net investment in lease higher than the liability initially recorded by Louis Company, the variance could be due to a. Initial direct costs. b. an unguaranteed residual value. O c. both A and B. d. neither A nor B. 1 point 13. Use the same information given in MC No. 12 and assume that on January 1, 2014, the lease payment included an amount of P5,000 for exceeding a limit for machine usage hours specified in the lease agreement. Louis Company would account for this charge as a a, an expense in its 2013 statement of comprehensive income O b. an expense in its 2014 statement of comprehensive income. O c. a reduction in the lease liability d. additional executory costs 2 points 14. Aileen Company acquired an equipment for P2,300,000. At the beginning of current year, the entity leased this equipment for a period of six years, after which, title to the machine is transferred to the lessee. The equipment is so specialized in nature that only the lessee can exclusively benefit from it. The six annual lease payments are due in advance at the beginning of each lease year. The equipment is expected to fall at P200,000 at the end of its useful life which represents the amount it can be sold therefrom. A return of 12% is designed on the lease such that the lessor will earn an amount equal to this rate. What is the annual lease rental payable in advance? Round off present value factors to two decimal places. a. P500,000 O b. P477,826 O c. P383,333 O d. P460,000 O e. None of the above