Bravo Manufacturing Company is negotiating with a customer for the lease of a large machine manufactured by Bravo. The machine has a cash price of $$960,000.$ Bravo wants to be reimbursed for financing the machine at a $7\%$ annual interest rate. Problem $5-11($Algo$)$ Solving for unknown lease payment $[$LO$5-9,5-10]$

Bravo Manufacturing Company is negotiating with a customer for the lease of a large machine manufactured by Bravo. The machine

has a cash price of $$960,000.$ Bravo wants to be reimbursed for financing the machine at a $7\%$ annual interest rate.

Required:

Determine the required lease payment if the lease agreement calls for $10$ equal annual payments beginning immediately.

Determine the required lease payment if the first of $10$ annual payments will be made one year from the date of the agreement.

Determine the required lease payment if the first of $10$ annual payments will be made immediately and Bravo will be able to sell

the machine to another customer for $$66,000$ at the end of the $10-$year lease.

Note: For all requirements, Use tables, Excel, or a financial calculator. $($FV of $$1,PV$ of $$1,$FVA of $$1,PV{A}_{?}$ of $$1,$ FVAD of $$1$ and PVAD

of $$11)$

Complete this question by entering your answers in the tabs below.

Required $3$

Determine the required lease payment if the lease agreement calls for $10$ equal annual payments beginning immediately.

Note: Round your final answers to nearest whole dollar amount.

Required:

Determine the required lease payment if the lease agreement calls for $10$ equal annual payments beginning immediately.

Determine the required lease payment if the first of $10$ annual payments will be made one year from the date of the agreement.

Determine the required lease payment if the first of $10$ annual payments will be made immediately and Bravo will be able to sell the machine to another customer for $$66,000$ at the end of the $10-$year lease.