8. Camia Company is in the business of leasing new sophisticated equipment. As lessor, the entity expects a 12% return. At the end of the lease term, the equipment will revert to Camia Company. On January 1, 2015 an equipment is leased to another entity under a direct financing lease. Cost of equipment to Camia 5,500,000 Residual value unguaranteed 400,000 Annual rental payable in advance 959,500 Useful life and lease term 8 years lmplicit interest rate 12% First lease payment January 1, 2015 a.) 1,616,500 c.) 1,776,000 b.) 2,176,000 d.) 2,576,000