Videos-to-Go signed a lease for a vehicle that had an expected economic life of eight years and a fair value of $12.700. The lessoris the leasing subsidiary of a national car manufacturer. The terms of the lease are as follows: The lease term begins on 1 January 20X2 and runs for five years. The lease requires payments of $4,600 each 1 January, including $1.800 for maintenance and insurance costs. . At the end of the lease term, the lease is renewable for three one-year periods at $600 per year. The normal rental costs for a similar used vehicle would be approximately double this amount. . At the end of any lease term the vehicle reverts to the lesson Videos-to-Go does not know the interest rate implicit in the lease from the lessor's perspective but has an incremental borrowing rate of 12%. Videos-to-Go has a 31 December year-end and uses straight-line depreciation for all assets. (Round Intermediate calculations and final answers to the nearest whole dollar amount.) Py of $1. PVA OLSI and PVAD - $1.) (Use appropriate foctor(s) from the tables provided.) Required: 1. Prepare a lease liability amortization schedule. Lease Amortization Schedule - Beginning of Lease Year Payments Opening Interest 1 January Inc. Dec) in Balance Payment Balance 5 12.910 Ending Balance Lease Year 20x2 20x 2004 20x5 20X 2x