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On June 30,2024 , a company signs a lease requiring quarterly payments each year for the next two years. Each of the 8 quarterly payments is \$29,158.39, with the first lease payment beginning September 30. The company's normal borrowing rate is 7%. Use PVA of \$1. (Use appropriate factor(s) from the table provided, a financial calculator, or Excel.) Required: 1. Calculate the present value of the lease payments: 2. Record the lease on June 30,2024