Questions Question 1. (40 points) Tulip Leasing Corp (TLC, Lessor) and Rose Drinks Company (RDC, Lessee) sign a lease agreement dated December 31, 2019, that calls for TLC to lease an equipment to RDC beginning December 31, 2019. The details of the agreement are presented below: a. The term of the lease is three years. The lease agreement is non-cancelable. b. The equipment has a fair value of 150,000 at the date of agreement, an estimated economic life of seven years, and a guaranteed residual value of 9,000. c. TLC sets the annual rental rate to earn a rate of return of 6% per year. Required I. Calculate the amount of annual lease payment required. (Round to the nearest Euro) II. Prepare an amortization schedule for TLC (lessor). (Round to the nearest Euro)