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Exercise 21A-2 a-c (Part Level Submission) On December 31, 2016, Marin Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Marin to make annual payments of $8,479 at the beginning of each year, starting December 31, 2016. The machine has an estimated useful life of 6 years and a $4,600 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Marin uses the straight-line method of depreciation for all of its plant assets. Marin's incremental borrowing rate is 9%, and the lessor's implicit rate is unknown. Click here to view the factor table (a) Your answer is correct. What type of lease is this? This is a/arn Ufnancelease Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTSSHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT (b) Your answer is incorrect. Try again Compute the present value of the lease payments. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places, e.g. 5,275.) Present value of the lease payments 8950 Click if you would like to show Work for this question: Open Show Work C) Prepare all necessary journal entries through December 31, 2017. Note: C is a part of the