Amaya Leasing acquires equipment and leases it to customers under long-term sales-type leases. Amaya earns interest under these arrangements at a 4\% annual rate. Amaya leased a machine it purchased for $700,000 under an arrangement that specified annual payments beginning at the commencement of the lease for six years. The lessee had the option to purchase the machine at the end of the lease term for $200,000 when it was expected to have a residual value of $260,000 Calculate the amount of the annual lease payments. Note: Use tables, Excel, or a financial calculator. Enter amounts rounded to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Table 1 Future value of $1 TABLE 2 Present value of $1 Table 3 Future Value of an Ordinary Annuity of $1 Table 4 Present Value of an Ordinary Annuity of $1 Table 5 Future Value of an Annuity Due of $1 Table 6 Present Value of an Annuity Due of $1