Fourth time posting this question so please try to answer accurately, thank you. (Ignore previous calculations)

o. for a four-year On December 31, 2016, Rhone-Metro Industries leased equipment to Western Soyac period ending December 31, 2020, at which time possession of the leased asset will revert back to Rhone- Metro. The equipment cost Rhone-Metro $468,317 and has an expected useful life of six years. Its normal sales price is $468,317. The lessee-guaranteed residual value at December 31, 2020, is $22,000. Equal payments under the lease are $130,000 and are due on December 31 of each year. The first payment was made on December 31, 2016. Collectibility of the remaining lease payments is reasonably assured, and Rhone-Metro has no material cost uncertainties. Western Soya's incremental borrowing rate is 12%. Western Soya knows the interest rate implicit in the lease payments is 10% Both companies use straight- line depreciation. Use (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Show how Rhone-Metro calculated the $130,000 annual lease payments. (Enter your percentage answers as a whole number.) Guaranteed Residual Value Table or calculator function: of $1 n= I (96) = Present Value Amount to be recovered Less: Present value of the guaranteed residual value Amount to be recovered through periodic lease payments Lease Payments Table or calculator function: VAD of $1 I (96) = Lease payments at the beginning of each of the next four years Lease Payments