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Diablo Company lease a machine from Juniper Corp. On Jan 1, 2015, The machine has...

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Accounting

Diablo Company lease a machine from Juniper Corp. On Jan 1, 2015, The machine has a fair value of $20,000,000. The lease agreement calls for four equal payments at the end of each year. The useful life od the machine was expected to be four years with no residual value. The appropriate interest rate of this lease is 10%. Depreciation is SYD
Determine the amount of each lease payment.
Prepare the appropriate journal entries for diablo for 2015 and 2016.

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