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Exercise 21-1 (Part Level Submission) On January 1, 2017, Teal Corporation signed a 5-year noncancelable lease for a machine. The terms of the lease called for Teal to make annual payments of $8,560 at the beginning of each year, starting January 1, 2017. The machine has an estimated useful life of 6 years and a $4,800 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Teal uses the straight-line method of depreciation for all of its plant assets. Teal's incremental borrowing rate is 10%, and the lessor's implicit rate is unknown. janina feadh year tatingeanuay u,s the of Click here to view factor tab ? (b) Your answer is correct. Compute the present value of the minimum lease payments. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) The present value of the minimum lease payments Click if you would like to Show Work for this question: 35694 Open Show Work