A company signs a lease acquining the right to use property for five years. Lease poyments of $21288.85 are to be made annually at the end of thes year and the next four years. The discount, or interest, rate is 8 percent per yeat. USe factor table in Appendix 8 for celculationy Required 1 . What is the present value of the lease nayments? 5 Requifed 2 in the first payment, What is the amount of interest cancelled? $ Required 3 in the second payment, what is the omount of lease paid net of interest? $ Reguired 4 in the last peyment, what is the amount of interest cancelled? $ Required 5 Assume the lease contract has the option to buy the property for the present value of the femaining payments plus $50.000 If the company decides to buy the property at the end of the third yoar immediately before the third payment, how much it must pay in dollars at the end of period 33,5