Consider a six-year lease for a $350,000 bottling machine, with a residual market value of $122,500 at the end of six years. If the risk-free interest rate is 5.9% APR with monthly compounding, compute the monthly lease payment in a perfect market for the following leases:

a. A fair market value lease

b. A $1.00 out lease

c. A fixed price lease with a $50,000 final price