Crane Corporation entered into an agreement to lease out a piece of equipment to a customer. The details of the lease are as follows: . Equipment cost of $116,400 Lease term of 8 years Guaranteed residual value of $10,100 . Annual payments on the lease would be due at the beginning of each year. Click here to view the factor table PRESENT VALUE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE In order to earn a 4% return, what minimum lease payments should Crane charge its customer for this equipment lease? (Round factor values to 5 decimal places, eg. 1.25124 and final answers to O decimal places, e.g. 5,275.) Minimum lease payment $