Current Attempt in Progress Sunland, Inc. leased equipment from Tower Company under a 4-year lease requiring equal annual payments of $404152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4-year useful life and no salvage value. If Sunland, Inc.'s incremental borrowing rate is 9% and the rate implicit in the lease (which is known by Sunland, Inc.) is 7%, what is the amount recorded for the leased asset at the lease inception? PV Annuity. Due PV Ordinary Annuity 7%, 4 periods 3.62432 3.38721 9%, 4 periods 3.53129 3.23972 O $1464776 $1309339 O $1368948 O $1427178 Current Attempt in Progress Ivanhoe Company has a machine with a cost of $660000 which also is its fair value on the date the machine is leased to Park Company. The lease is for 6 years and the machine is estimated to have an unguaranteed residual value of $65000. If the lessor's interest rate implicit in the lease is 11%, the 6 beginning-of-the-year lease payments would be Click here to view factor tables. O $110000. O $126706. O $140548. O $133148