None The following facts pertain to a non-cancelable lease agreement between Wildhorse Leasing Company and Windsor Company, a lessee.Commencement dateJune 1, 2025Annual lease payment beginning with June 1, 2025$19,998.50Bargain purchase option price at end of lease term$7,000.00Lease termEconomic life of leased equipment (no salvage value)Lessor's costFair value of asset at June 1, 20254 years12 years$56,000$78,999Lessor's implicit rate (known to lessee)6%Lessee's incremental borrowing rate6%The collectibility of the lease payments by Wildhorse is probable.Click here to view factor tables.(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)(a)(b)(c)Your answer is partially correct.Prepare a lease amortization schedule for Windsor for the 4-year lease term. (Round answers to 2 decimal places, e.g. 5,275.15.)DateAnnual Lease Payment PlusBPOWINDSOR COMPANY (Lessee)Lease Amortization ScheduleInterest on (6%)LiabilityReduction of LeaseLiabilityLease Liability6/1/25$6/1/256/1/266/1/276/1/285/31/29

Given Data:Beginning balance = 78999.Annual Lease Payment = 19998.5Rate of Interest = 6%Bargain…

Commencement date Annual lease payment beginning with June 1, 2025 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment (no salvage value) Lessor's cost Fair value of asset at June 1, 2025 Lessor's implicit rate (known to lessee) Lessee's incremental borrowing rate June 1, 2025 $19,998.50 $7,000.00 4 years 12 years $56,000 $78,999 6% 6%