Consider a 7-year lease for a $300,000 bottling machine, with a residual market value of $120,000 at the end of 7 years. If the risk-free interest rate is 5.7% 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 $59,000 final price.