Ragnar Company leased a machine from Lagatha Leasing. The lease is for four years. The life of the asset

is four years. The lease is non$-$cancelable. Ragnar's borrowing rate is $8\%$ and knows Lagatha's earnings rate of $5\%.$

The lease requires four payments at the beginning of each year of $$100,000.$ There is a guaranteed residual value

of $$12,000,$ but Ragnar expects to return the asset with a worth of $$10,000.$ The lease begins January $1,2023.$ Refer to this problem. Lagatha's earnings rate is $5\%.$ This liease is considered a sale of goods costing $$75,000.$ a$)$Given that the residual value is guaranteed, determine the price from the sale. b$)$ Record the sale and the first payment on January $1,2023.$ c$)$ Prepare an amortization table for the lease below using the tablets for chap $5$ and $6$ in an earlier edition. d$)$Assuming the estimate of the expected payment at the end of the lease is correct, record the entry to settle the lease on December $31,2026.$