Please help with the problem I got wrong

A lease agreement that qualifies as a finance lease calls for annual lease payments of $60,000 over a eight-year lease term (also the asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 4%. (FV of $1. PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: a. Complete the amortization schedule for the first two payments. b. If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Required A Required B Complete the amortization schedule for the first two payments. (Enter all amounts as positive values.) Date Lease Payment Effective Interest Decrease in Balance 01/01/2016 01/01/2016 01/01/2017 Outstanding Balance $ 420,123 360,123 314,528 $ $ $ 60,000 60,000 0 14,405 60,000 45,595 Required A Required B > Required A Required B If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Lease liability Interest payable $ $ 14,405 14,405 Required A Required B