Need help with part C (below).

Exercise 21-8 (Part Level Submission) The following facts pertain to a noncancelable lease agreement between Whispering Leasing Company and Metock Company, a lessee. May 1, Inception date: 2017 Annual lease payment due at the beginning of $21,751.90 each year, beginning with May 1, 2017 Bargain-purchase option price at end of lease $3,700 term 5 years Lease term Economic life of leased equipment 10 years $67,000 Lessor's cost Fair value of asset at May 1, 2017 $93,000 Lessor's implicit rate 10 Lessee's incremental borrowing rate 10 The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties surrounding the costs yet to be incurred by the lessor The lessee assumes responsibility for all executory costs. Click here to view factor tables