Manning Imports is contemplating an agreement to lease equipment to a customer for ten years. Manning normally sells the asset for a cash price of $150,000. Assuming that 8% is a reasonable rate of interest. (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.) What must be the amount of quarterly lease payments (beginning at the beginning of the lease) in order for Manning to recover its normal selling price as well as be compensated for financing the asset over the lease term? (Round your answers to nearest whole number and round percentage answer to 1 decimal place.) PV factors based on Table or Calculator function: PV of Lease n = i = Lease Payment King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at a 5% annual rate. The lease term is seven-months with monthly payments of $18,000 due at the end of each month. King Cones elected the short-term lease option. What is the effect of the lease on King Cones' earnings during the seven-month term (ignore taxes)