2) Kataran Company enters into a 4-year lease transaction, with payments due at the beginning of each year. The lease payments are $78,000 per year. The fair value of the leased asset is $290,000. The lessor's deferred initial direct costs are equal to $24,000. The lessor's estimate of the unguaranteed residual asset is $115,000. Based on the above information, what is the implicit rate in the lease for Kataran? A) 11.48% B) 21.81% Q) 14.77% D) 16.54% the lease commencement date 24) Plessings Company leased a piece of machinery to Banana, Inc. on January 1, 2019. The lease is correctly classified as a sales-type lease. Plessings will receive three annual lease payments of $20,100, with the first one received on January 1, 2019. There is no guaranteed or unguaranteed residual value. The fair value of the machine is $50,000 and Plessings incurs initial direct costs of $5,000. What is the implicit rate assuming the initial direct costs are expensed? A) 22.22% B) 9.97% C) 4.74% D) 9.98% 9 10 1 12 Show Work Manually Not Excel