Brief Exercise 15-13 Purchase option; lessor, sales-type lease [L015-2, 15-3, 15-6] Ace Leasing acquires equipment and leases it to customers under long-term sales-type leases. Ace earns interest under these arrangements at a 8% annual rate. Ace leased a machine it purchased for S740.000 under an arrangement that speened annual payments beginning at the commencement of the lease for five years. The lessce had the option to purchase the machine at the ond of the lease term for $250.000 when it was expected to have a residual value of $300,000. EV ofS! PV of S1, EVA o S1. PyAofs1 FVAD of $1 and PVAD ofSil (Use appropriate factor(s) from the tables provided.) Calculate the amount of the annual lease payments. Table or calculator function Amount to be recovered (fair value) Purchase option Amount to be recovered through periodic lease parythents Lease Payment Table or calculator tunction Lease Payments Amount of fair value recovered each lease payment