Question: On December 31, 2024, Granato Leasing leased equipment to Carlson Company for a five-year period. The annual lease payment, excluding nonlease components, is $41,000. The interest rate for this lease is 9%. The pavments are due on December 31 of each year. The first payment was made on: December 31, 2024. The normal cash price for this type of equipment is $165,000 while the cost to Granato was $134,000. For the year ended Decembel 31, 2024, by what amount will Granato's earnings increase due to this lease (ignore taxes)?