15-28 (Static) Sales-type lease; lessor; financial statement effects [LO15-2, 15-8] Abbott Equipment leased a protein analyzer to Werner Chemical, Incorporated, on September 30, 2024. 13 points Abbott purchased the machine from NutraLabs, Incorporated, at a cost of $6 million. The five-year lease agreement calls for Werner to make quarterly lease payments of $391,548, payable each September 30 , December 31, March 31, and June 30, with the first payment on September 30, 2024. Abbott's implicit interest rate is 12%. The useful life of the equipment is five years. eBook Pirint Reterences 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