BBB Leasing purchased a machine for $$440,000$ and leased it to Jack Tupp Auto Repair on January $1,2024.$

$\backslash$table$[[$Lease description:,$],[$Quarterly rental payments,$$26,957$ at beginning of each period$],[$Lease term,$5$ years $(20$ quarters$)],[$No residual value; no BPO,$],[$Economic life of machine,$5$ years$],[$Implicit interest rate,$9\%$