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A On September 30, 2021, Truckee Garbage leased equipment from a supplier and agreed to pay $144,000 annually for 15 years beginning September 30, 2022.

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A On September 30, 2021, Truckee Garbage leased equipment from a supplier and agreed to pay $144,000 annually for 15 years beginning September 30, 2022. Generally accepted accounting principles require that a liability be recorded for this lease agreement for the present value of scheduled payments. Accordingly, at inception of the lease, Truckee recorded a $1,095,276 lease liability. (FV of $1. PV of $1, FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) :57:03 Required: Determine the interest rate implicit in the lease agreement. (Round your answer to 1 decimal place.) Interest rate implicit %

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