Exercise 9-9 (Algo) Compare installment notes and leases (LO9-2, 9-3) January 1, 2024, Paradise Partners decides to upgrade recreational equipment at its resorts. The company is contemplating whether to purchase or lease the new equipment. Use PV of S1 and PVA of S1. (Use appropriate factor(s) from the tables provided.) Required: 1. The company caurchase the equipment by borrowing $218,000 with a 25 -month, 12% installment note. Payments of $9,898,67 are due at the end of each month, and the first installiment is due on Januarry 31,2024 . Record the issuance of the installiment note payable for the purchase of the equipment. 2. The company can sign a 25 -month lease for the equipment by agreeing to pay 57,900.78 at the end of each month, begining January 31, 2024. At the end of the lease, the equipment must be returned. Assuming a borrowing rote of 12%, record the lease. 3. As of January 1, 2024, does the installment note of the lease have a greater effect on increasing the company/s amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $123,000 at the end of the 25 -month period, which option (purchasing with installiment note or leasing) would likely be better? Complete this question by entering your answers in the tabs below. 1. The company can purchase the equipment by borrowing 5218,000 with a 25 manth, 12% instaliment note. Formanta of 59.890.67 are due at the end of each month, and the first instaliment is due on jenuary 31. 2024. Reoord the wwance of the installiment note payable for the purchase of the equipment. 2. The company can sign a 25 -month leose for the equipment by wgreeing to poy $7.900.70 at the end of esch month. beginning Exercise 9-9 (Algo) Compare installment notes and leases (LO9-2, 9-3) January 1, 2024, Paradise Partners decides to upgrade recreational equipment at its resorts. The company is contemplating whether to purchase or lease the new equipment. Use PV of S1 and PVA of S1. (Use appropriate factor(s) from the tables provided.) Required: 1. The company caurchase the equipment by borrowing $218,000 with a 25 -month, 12% installment note. Payments of $9,898,67 are due at the end of each month, and the first installiment is due on Januarry 31,2024 . Record the issuance of the installiment note payable for the purchase of the equipment. 2. The company can sign a 25 -month lease for the equipment by agreeing to pay 57,900.78 at the end of each month, begining January 31, 2024. At the end of the lease, the equipment must be returned. Assuming a borrowing rote of 12%, record the lease. 3. As of January 1, 2024, does the installment note of the lease have a greater effect on increasing the company/s amount of reported debt, and by how much? 4. Suppose the equipment has a total value of $123,000 at the end of the 25 -month period, which option (purchasing with installiment note or leasing) would likely be better? Complete this question by entering your answers in the tabs below. 1. The company can purchase the equipment by borrowing 5218,000 with a 25 manth, 12% instaliment note. Formanta of 59.890.67 are due at the end of each month, and the first instaliment is due on jenuary 31. 2024. Reoord the wwance of the installiment note payable for the purchase of the equipment. 2. The company can sign a 25 -month leose for the equipment by wgreeing to poy $7.900.70 at the end of esch month. beginning