Consider a 6-year lease for a $450,000 bottling machine, with a residual market value of $157,500 at the end of 6 years. If the risk-free interest rate is 5.2% APR with monthly compounding, compute the monthly lease payment in a perfect market for the following leases: a. A fair market value lease. b. A $1.00 out lease. c. A fixed price lease with an $80,000 final price.

(ALSO show present value of the lease)