Question: I need help with this problem please Exercise 21 Un December 31, 2D16, Kingbird Corporaticn signed a 5 year, non cancelable lease for a machine.

I need help with this problem please

Exercise 21 Un December 31, 2D16, Kingbird Corporaticn signed a 5 year, non cancelable lease for a machine. The terms of the lease called for Kingbird to make arnual payments af $8,31/ at the beginning of cach year, starting December 31, 2015. The machine has an cstimated uscful life of years and a5,30 unguaranteed residual value. The ma ine reverts back to the essor at c cnd of he ase er Kingbird uses the straight inc method of depreciation or all of its plant assets. King ir S incremental borrowing rate is 1D% and the essor's implicit rate is unknown. A-2 a-c (Part Level Submission) (a) Your answer is correct. What type of lease is this? This is a/anLans. ]lease. Click if you would like to Show Work for this question:Open Show Wark Attempts: 2 of 3 used (b) displayed in pute the 5 decimal Che factor e.5,275 Present value ot the lease payments

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