Q 15: Lease Homework. Unanswered The Corp has signed a 5-year lease for new production equipment. The lease calls for annual payments at the start of each year, beginning on the date of the signing as the first payment, of $74,000. The useful life of the machine is 6 years and The Corp will retain title at the end of the lease. The lessor structures leases with an implicit interest rate of 10%. There is no residual value at the end of the lease. How much should The Corp initially record as right of use asset? 0 A $308,570 0 B $370,000 O C $ 298,764 o D $444,000 O E $ 354,518 Q 16: Leases Homework Unanswered The Corp has signed a 5-year lease for new production equipment. The lease calls for annual payments at the start of each year, beginning on the date of the signing as the first payment, of $74,000. The useful life of the machine is 6 years and The Corp will retain title at the end of the lease. The lessor structures leases with an implicit interest rate of 10%. There is no residual value at the end of the lease. How much interest expense will The Corp recognize over the life of the lease? 0 A $37,000 O B $185,000 O c $61,430 O D $ 153,500 E $ 44,400 [] Ful