Please use the following data to answer the following four questions (20-23) On 12/31/2019, Gables Manufacturing (lessor) leased equipment to Lorena Co (lessee) for a 5-year period under a non-cancelable agreement, after which the leased asset will revert back to Gables. The equipment costs Gables $360,000 to manufacture it and it normally sells for $451,195. Equal payments under the lease are $100,000 and are due on December 31 of each year, with the first payment on December 31, 2019. The equipment has a useful life of 6 years. The equipment has a residual value of 35,000 at the end of the lease term. The rate implicit in the lease used by the lessor is 9%, Lorena Co's incremental borrowing rate is 12% and lessee is aware of lessor's rate. What is the interest revenue that Gables would report for this lease in its 2020 income statement? a. $40,608 72 739192 b. $32,508 Tul new & 1200 c. $29,157 d. $90,000 30 What amount would Lorena record for the right-of-use (ROU) asset on December 31, 2019? a. $324,965 b. $500,000 $423,972 d. $451,195 C