Sandhill Limited has signed a lease agreement with Wildhorse Corp. to lease equipment with an expected lifespan of eight years, no estimated salvage value, and a cost to Wildhorse, the lessor of $199,000. The terms of the lease are as follows: The lease term begins on January 1, 2022, and runs for 5 years. The lease requires payments of $45,359 at the beginning of each year starting January 1, 2022. At the end of the lease term, the equipment is to be returned to the lessor. Wildhorse' implied interest rate is 7%, while Sandhill's borrowing rate is 8%. Sandhill uses straight-line depreciation for similar equipment. The year-end for both companies is December 31. Prepare Sandhill's lease amortization schedule using the effective interest method. (Round answers to O decimal places, e.g. 5,275.) Date Payment January 1, 2022 January 1, 2022 45359 January 1, 2023 45359 January 1, 2024 45359 January 1, 2025 45359 January 1, 2026 45359 $ Interest (7%) $ $ $ Principal Balance 199000