On June $30,2024,$ Blue, Incorporated leased a machine from Large Leasing Corporation. The

lease agreement calls for Blue to make semiannual lease payments of $$298,341$ over a three$-$year

lease term, payable each June $30$ and December $31,$ with the first payment on June $30,2024.$

Blue's incremental borrowing rate is $10\%,$ the same rate Big uses to calculate lease payment

amounts. Depreciation is recorded on a straight$-$line basis at the end of each fiscal year. Large

constructed the machine at a cost of $$1,331,000.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD

of $$1$ and PVAD of $$1)$

Required:

Determine the price at which Large is "selling" the machine $($present value of the lease

payments$)$ on June $30,2024.$

What would be the amounts related to the lease that Large would report in its balance sheet

at December $31,2024?($Ignore taxes.$)$

What would be the amounts related to the lease that Large would report in its income

statement for the year ended December $31,2024?($Ignore taxes.$)$

Note: For all the requirements, round final answers to the nearest whole dollar amounts.