Show Attempt History Current Attempt in Progress On January 1, 2020, Bridgeport Company contracts to lease equipment for 5 years, agreeing to make a payment of $146,288 at the beginning of each year, starting January 1, 2020. The leased equipment is to be capitalized at $610,000. The asset is to be amortized on a double-declining-balance basis, and the obligation is to be reduced on an effective-interest basis. Bridgeport's incremental borrowing rate is 6%, and the implicit rate in the lease is 10%, which is known by Bridgeport. Title to the equipment transfers to Bridgeport at the end of the lease. The asset has an estimated useful life of 5 years and no residual value. Click here to view factor tables. What amounts will appear on the lessee's December 31, 2020, balance sheet relative to the lease contract? BRIDGEPORT COMPANY Balance Sheet (Partial) v Assets Liabilities CA $ LA $