Required information Problem 14-11AC Capital lease accounting LO C3 The following information applies to the questions displayed below. Rogers Company signs a five-year capital lease with Packer Company for office equipment. The annual year-end lease payment is $24,000, and the interest rte is 7%.CableBL Table B2. TableB3, and Table BA (Use appropriate factor(s) from the tables provided.) Problem 14-11AC Part 1 1. Complete the below table to calculate the present value of Rogers's five-year lease payments. Lease Payment Amount Present value of lease payments PV Factor 24,00of Required information Problem 14-11AC Capital lease accounting LO C3 The following information applies to the questions displayed below. Rogers Company signs a five-year capital lease with Packer Company for office equipment. The annual year-end lease payment is $24,000, and the interest rate is 7%.CableBI, Table B.2. TableB3, and TableBA) (Use appropriate factor(s) from the tables provided.) Problem 14-11AC Part 2 2. Prepare the journal entry to record Rogers's capital lease at its inception. View transaction list Journal entry worksheet Record the capital lease of office equipment. Note: Enter debits before credits Transaction General Journal Debit Credit Leased asset Office equipment ease liability Problem 14-11AC Part 4 4. Use straight-line depreciation and prepare the journal entry to depreciate the leased asset at the end of year 1. Assume zero salvage value and a five-year life for the office equipment. View transaction list Journal entry worksheet Record the annual depreciation expense on the office equipment at the end of year 1 Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal