The following facts pertain to a non-cancelable lease agreement between Crane Leasing Company and Larkspur Company, a lessee. Commencement date May 1, 2020 Annual lease payment due at the beginning of each year, beginning with May 1, 2020 $19.656.69 Bargain purchase option price at end of lease term $7,000 Lease term Economic life of leased equipment 5 years 10 years Lessor's cost $65,000 Fair value of asset at May 1, 2020 $93,000 Lessor's implicit rate 6 % Lessee's incremental borrowing rate 6 % The collectibility of the lease payments by Crane is probable. Prepare a lease amortization schedule for Larkspur for the 5-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15) Annual Lease Payment Plus BPO LARKSPUR COMPANY (Lessee) Lease Amortization Schedule Interest on Liability Reduction of Lease Liability Lease Liability $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 10 used Submit