Rumsfeld Corporation leased a machine on December 31, 2018, for a three-year period. The lease agreement calls for annual payments in the amount of $14,500 on December 31 of each year beginning on December 31, 2018. Rumsfeld has the option to purchase the machine on December 31, 2021. for $18,500 when its fair value is expected to be $28,500. The machine's estimated useful life is expected to be four years with no residual value. The appropriate interest rate for this lease Is 10% 1/1 1 period, 100 2 periods, 100 3 periodis, 104 PV of $1 0.90909 0.82645 0.75131 wordinary annuity 0.90909 1.73554 2.48585 PV, Annuity due 1.00000 1.90909 2.73554 Required: 1. Calculate the amount to be recorded as a right-of-use asset and the associated tease liability, 2. Prepare an amortization schedule for this lease. Complete this question by entering your answers in the tabs below. Required: Required 2 Calculate the amount to be recorded as a right-of-use asset and the associated lease ability (Round your answer to the nearest whole dollar amounts) Lased artibility Required 2 > Help Rumsfeld Corporation leased a machine on December 31, 2018, for a three-year period. The lease agreement calls for annual payments in the amount of $14,500 on December 31 of each year beginning on December 31, 2018. Rumsfeld has the option to purchase the machine on December 31, 2021, for $18,500 when its fair value is expected to be $28,500. The machine's estimated useful life is expected to be four years with no residual value. The appropriate Interest rate for this lease is 10% PV, ordinary maty DV. annuity due 1 period, 100 1.00000 periods, 100 3 perioda, 101 2.48685 VO. 0.90909 0.82645 0.75101 0.90909 1.73554 1.90909 2.23554 Required: 1. Calculate the amount to be recorded as a right-of-use asset and the associated lease liability 2. Prepare an amortization schedule for this lease. Complete this question by entering your answers in the tabu below. Required Reqsired 2 Prepare an amortization schedule for this lease. (Round your answer to the earest whole dollar amounts. Amortization Schedule Effective Decrease Payments Interest in Balance Balance Dec 31 2018 Dec 31 2019 Dec 31 2020 Dec 31 2021