the last question only

Barkley Corporation is a lessee with a capital lease. The asset is recorded at $450,000 and has an economic life of 8 years. The ease term is 5 years. The asset is expected to have a market value of $150,000 at the end of 5 years, and a market value of $50,000 at the end of 8 years. The lease agreement provides for the transfer of title of the asset to the lessee at the end of the lease term. What amount of depreciation expense would the lessee record for the first year of the lease? a. $90,000 b. $80,000 c. $60,000 d. $50,000 Huffman Company leases a machine from Lincoln Corp. under an agreement which meets the criteria to be a capital lease for Huffman. The six-year lease requires payment of $102,000 at the beginning of each year, including $15,000 per year for maintenance, insurance, and taxes. The incremental borrowing rate for the lessee is 10% the lessor's implicit rate is 8% and is known by the lessee. The present value of an annuity due of 1 for six years at 10% is 4.79079. The present value of an annuity due of 1 for six years at 8% is 4.99271. Huffman should record the leased asset at a. $509, 256. b. $488, 661 c. $434, 366. d. $416, 799. On December 31, 2014, Pool Corporation leased a ship from Renn Company for an eight-year period expiring December 30, 2022. Equal annual payments of $200,000 are due on December 31 each year, beginning with December 31, 2014. The lease is properly classified as a capital lease on Pool's books. The present value at December 31, 2014 of the eight lease payments over the lease term discounted at 10% is %1, 173, 685. The mount that should be reported by Pool Corporation as the total obligation under capital leases on its December 31, 2014 balance sheet is a. $1, 091, 054. b. $1,000, 159 c. $871, 054. d. $973, 685. On 1/1/4, Ship leased office space to Shore for 10 years at $15,000 per month. On that date, Ship also paid $30,000 commission. Depreciation is $12,000 per year straight line. What is Ship's income in 2014 for this operating lease. a. $180,000 b. $168,000 c. $165,000 d. $138,000