The following facts pertain to a non$-$cancelable lease agreement between Pharoah Leasing Company and Oriole Company, a lessee.

Commencement date

Annual lease payment due at the beginning of each year, beginning with January $1,2025$

Residual value of equipment at end of lease term, guaranteed by the lessee

Expected residual value of equipment at end of lease term

Lease term

Economic life of leased equipment

Fair value of asset at January $1,2025$

Lessor's implicit rate

Lessee's sincremental borrowing rate

January $1,2025$

$$128,634$

$$47,000$

$$42,000$

$6$ years

$6$ years

$$657,000$

$9\%$

$9\%$

The asset will revert to the lessor at the end of the lease term. The lessee uses the straight$-$line amortization for all leased equipment.

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Prepare an amortization schedule that would be suitable for the lessee for the lease term. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and the final answers to $0$ decimal places e$.$g$.5,275.)$