At January 1, 2024, Caf Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. - The lease agreement specifies annual payments of $25,000 beginning January 1,2024 , the beginning of the lease, and on each December 31 thereafter through 2031. - The equipment was acquired recently by Crescent at a cost of $180,000 (its fair value) and was expected to have a useful life of 12 years with no salvage value at the end of its life. - Because the lease term is only nine years, the asset does have an expected residual value at the end of the lease term of $50,995. - Crescent seeks a 10% return on its lease investments. By this arrangement, the lease is deemed to be a finance lease. Note: Use tables, Excel, or a financial calculator. (EV of \$1. PV of \$1, EVA of \$1. PVA of \$1, EVAD of \$1 and PVAD of \$1)