Prepare the lease amortization schedule for Crane using the effective interest method. (Round answers to O decimal places, e.g. 5,275.) Date Payment January 1,2022 January $ 1,2022 January 1,2023 January 1,2024 January 1,2025 January 1,2026 $ Interest (5%) Net Investment Recovery $ $ $ $ Net Investmen Your answer has been saved. See score details after the due date. Determine the present value of the minimum lease payments. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275.) Present value 78500 Attempte: 1 of 1 used. Blossom Limited has signed a lease agreement with Crane Corp. to lease equipment with an expected lifespan of eight years, no estimated salvage value, and a cost to Crane, the lessor of $205,000. The terms of the lease are as follows: The lease term begins on January 1, 2022, and runs for 5 years. The lease requires payments of $45,095 at the beginning of each year starting January 1, 2022. At the end of the lease term, the equipment is to be returned to the lessor. Crane' implied interest rate is 5%, while Blossom's borrowing rate is 6%. Blossom uses straight-line depreciation for similar equipment. The year-end for both companies is December 31. Assuming that both companies follow ASPE: Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE.