SandhilI Leasing Corporation, which uses IFRS 16 , signs a lease agreement on January 1, 2020, to leave electronic equipment to Wai Corporation, which also uses IFRS 16 . The term of the non-ancellable lease is two years and payments are required at the end of each year, The following information relates to this agreement. 1. Wai Corporation has the option to purchase the equipment for $11,400 upon the termination of the lease and this option is reasonably certain to be exercised. 2. The equipment has a cost and fair value of $185,000 to Sandhill Leasing Corporation. The useful economic lite is two years, witha residual value of $11,400. 3. Wai Corporation is required to pay $5,500 each year to the lessor for insurance costs. 4. Sandhill Leasing Corporation wants to eam a return of 9% on its investment 5. Collectibility of the payments is reasonably predictable, and there are no important uncertainties surrounding the costs that have not yet been incurred by the lessor. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Assuming that Wai Corporation exercises its option to purchase the equipment on December 31, 2021, prepare thy joumal entry to reflect the sale on Sandhill Leasing's books. (Credit account titles are automatically indented when the amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts, Round answers to 0 decimal places, e.8. 52.754.) What amount would Wai Corporation capitalize and recognize as a lease liability and corresponding right-to-use asset on signing the lease? (Round answer to 0 decimal places, e-3. 52,257.)