View Policies Current Attempt in Progress Crane Corp is a manufacturer of truck trailers. On January 1, 2025, Crane leased ten trailers to Bramble Company under a six-year noncancelable lease agreement. The following information about the lease and the trailers is provided: 1 2. 3. Equal annual payments that are due on January 1 each year provide Crane with an 8% return on net investment (the present value factor on an annuity due for 6 periods at 8% is 4.99271). The first payment will be made January 1, 2025. Titles to the trailers pass to Bramble at the end of the lease. The fair value of each trailer is $45,000. The cost of each trailer to Crane is $40.500. Each trailer has an expected useful life of nine years. 4. Collectibility of the lease payments is probable. Click here to view factor tables. (a)