The following facts pertain to a non-cancelable lease agreement between Carla Vista Leasing Company and Tamarisk Company, a lessee Commencement date May 1, 2020 Annual lease payment due at the beginning of each year, beginning with May 1, 2020 Bargain purchase option price at end of lease term $17.865.02 $7.000 Lease term 5 years Economic life of leased equipment 10 years $65.000 Lessor's cost Fair value of asset at May 1, 2020 $95.000 Lessor's implicit rate Lessee's incremental borrowing rate 6 % The collectibility of the lease payments by Carla Vista is probable. Click here to view factor tables (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) Your answer is correct. Discuss the nature of this lease ta Tamarisk. The nature of this lease to Tamarisk is a finance lease. e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Your answer is correct. Discuss the nature of this lease to Carla Vista. The nature of this lease to Carla Vista is a sales type lease. eTextbook and Media List of Accounts Attempts: 2 of 3 used (c) Prepare a lease amortization schedule for Tamarisk for the 5-year lease term. (Round answers to 2 decimal places.eg. 5.275.15.) TAMARISK COMPANY (Lessee) Lease Amortization Schedule Annual Lease Payment Plus BPO Interest on Liability Reduction of Lease Liability Date 5/1/20 $ $ 5/1/20 5/1/21 5/1/22 | 5/1/23 5/1/24 4/30/25 $ $ e Textbook and Media List of Accounts