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Blossom Corporation entered into an agreement to lease out a piece of equipment to a customer. The details of the lease are as follows: -
Blossom Corporation entered into an agreement to lease out a piece of equipment to a customer. The details of the lease are as follows: - Equipment cost of \\( \\$ 105,800 \\) - Lease term of 8 years - Guaranteed residual value of \\( \\$ 9,000 \\) - Annual payments on the lease would be due at the beginning of each year. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. In order to earn a \4 return, what minimum lease payments should Blossom charge its customer for this equipment lease? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.) Minimum lease payment \\( \\$ \\)
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