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> (Click the icon to view the Future Value of $1 table.) Turbine Bank recently leased machinery to Block Company. The 8-year lease contract requires

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> (Click the icon to view the Future Value of $1 table.) Turbine Bank recently leased machinery to Block Company. The 8-year lease contract requires rental payments of $140,000 due on January 1 of each year. The lease is classified as a finance lease for the lessee and a sales-type lease for the lessor, Block knows Turbine Bank's 6% implicit rate. There is a $28,000 residual value. (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) Compute the net investment in the lease for Turbine Bank and the lease liability and right-of-use asset for the Block Company assuming that the residual value is not guaranteed by the lessee or by a third party (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculation. If using present and future value tables or the formula method, use Innte minden ndotto fins danimal loane vvvvv Net investment in the lease for Turbine Bank Lease liability and right-of-use asset for Block Company show work

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