Tesla Leasing leased high-tech electronic equipment to Manufacturers Western on January 1, 2016. Tesla purchased the equipment from National Machines at a cost of $205,052 (rounded to nearest dollar). Related Information: Lease term 3 years (12 quarterly periods) Quarterly rental payments $20,000 at the beginning of each period Economic life of the asset 3 years Fair value of the asset $205,052 12% Implicit interest rate (Also lessee's incremental borrowing rate) Required: Prepare a lease amortization schedule for the life of the lease, and appropriate entries for Tesla Leasing from the inception of the lease through January 1, 2017. Tesla's fiscal year ends December 31