Sage Company manufactures a check-in kiosk with an estimated economic life of 12 years and leases it to Pronghorn Airlines for a period of 10 years. The normal selling price of the equipment is $256,597, and its unguaranteed residual value at the end of the lease term is estimated to be $20,400. Pronghorn will pay annua each year and all maintenance, insurance, and taxes. Sage incurred costs of S181,800 in manufacturing the equipment and $4,300 in negotiating and closing the lease. Sage has determined that the collectability of the lease payments is reasonably predictable, that no additional costs will be incurred, and that the implicit interest rate is 10%. Pronghorn Airlines having an incremental borrowing rate of 10% 1 payments of $36,800 at the beginning of Compute the amount of the initial obligation under capital leases (PV of annuity- 6.75902)? 1. 2 Prepare a 10-year lease amortization schedule PRONGHORN AIRLINES (Lessee) Lease Amortization Schedule (Annuity due basis and URV) Beginning of Year Interest on Lease Liability Reduction of Lease Liability Lease Liability Annual Lease Payment Initial Pv Focus