Please answer the bolded question below using the information provided.Please write answer clearly, preferably typed if possible.

QUESTION 9 Assume that Raridon Corp. constructed a sports recreation facility that will be leased to the Naperville Park District for a 5-year term. The facility is expected to have a useful life of 25 years. The lease agreement calls for 5 equal payments to be made at the beginning of each year. The fair value of the facility is $2,500,000 and Raridon expected the residual value of $1,750,000 at the end of the 5-year lease. Raridon would like to earn a 10% return on the lease. Raridon estimates that Naperville Park District's incremental borrowing rate is 8%. 8% 10% PV of $1 - 5 periods 0.6806 0.6209 PV of $1 - 25 periods 0.1460 0.0923 PV of AD - 5 periods 4.3121 4.1699 PV of AD - 25 periods 11.5288 9.9847 PV of OA - 5 periods 3.9927 3.7908 PV of OA - 25 periods 10.6748 9.0770 Compute the annual lease payment that Raridon would charge (clearly documenting your work)