Please finish out part 5 (in the second picture), as well as check my answers before that.

A lessor and lessee enter into a sease agreement whereby an 16 wheeter wh a tair value of $130,000 and a usefur lfe of five years wil be ieased for a penod of four yean. The lease payments will be made at the bepinting of each yoar. The sesidual value at the end of the inase term is expected to be 520.000. The residual value at se end of the asters (bsefulitis axpected to be $15.000. At the end of two years the lessee has the option to purchase the trvok 108 e5,000. The tais market value of the truck at that lime is estimated to be 90,000 . The iessor requires a rate of retum of (bai) on his net inveatment. The lessee can borrow to purchaso the trok at a 108 interest tate. The lessee knows the iestor simplicit tate. 2. List and describe the amounts included in the lease bayments + quarartend salvace value. Caiculate the neesent value of the iense cavments for the inssee. is the total at least 90% of fair value? (res) or NO 3. The interest rate to calculate interest is 12% 4. Make the joumat entrias for the first year of the lease term. LEASED TRUCK. CASHH LEASELIAGILITY 130 obo ENTEREST EXPENSE (12786,(17)10,144 INTEREST PAYABLE 10, is 14 AMORTIZATIONEXPENSE (130KSK)/S25,000 ACCUM AMORTIZATION 23,000 5. Make al iestee joumal enties for the rest of the lease term. Wi/k ImterstPaycbleLease 16,444 50,459 Cistt 41,303