Sandhill Leasing Company leases a new machine to Wildhorse Corporation. The machine has a cost of $$65,000$ and fair value of $$95,000.$ Under the $3-$year, non$-$cancelable contract, Wildhorse will receive title to the machine at the end of the lease. The machine has a $3-$year useful life and no residual value. The lease was signed on January $1,2025.$ Sandhill expects to earn an $8\%$ return on its investment, and this implicit rate is known by Wildhorse. The annual rentals are payable on each December $31,$ beginning December $31,2025.($a$)$ Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. $($b$)$ Prepare the journal entry at commencement of the lease for Sandhill. $($c$)$ Prepare the journal entry at commencement of the lease for Wildhorse. $($d$)$ Prepare the journal entry at commencement of the lease for Wildhorse, assuming $(1)$ Wildhorse does not know Sandhill's implicit rate $($Wildhorse$\text{'}$s incremental borrowing rate is $9\%),$ and $(2)$ Wildhorse incurs initial direct costs of $$10,000.$