Ayayai Leasing Company purchased specialized equipment from Wayne Company on December 31, 2019 for $620,000. On the same date, it leased this equipment to Sears Company for 5 years, the useful life of the equipment. The lease payments begin January 1, 2020 and are made every 6 months until July 1, 2024. Ayayai Leasing wants to earn 12% annually on its investment. Periods or Rents 9 10 11 Future Value of $1 2.77308 3.10585 3.47855 Various Factors at 12% Present Future Value of an Value of $1 Ordinary Annuity 0.36061 14.77566 0.32197 17.54874 0.28748 20.65458 Present Value of an Ordinary Annuity 5.32825 5.65022 5.93770 Rectangular Ship Periods or Rents 9 Future Value of $1 1.68948 1.79085 1.89830 Various Factors at 6% Present Future Value of an Value of $1 Ordinary Annuity 0.59190 11.49132 0.55839 13.18079 0.52679 14.97164 Present Value of an Ordinary Annuity 6.80169 7.36009 7.88687 10 11 Click here to view factor tables (a) Calculate the amount of each rent. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Amount of rent $