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Assume Lessor Corporation wants to recover fair value, plus interest at $8\%,$ for its investment of

$$140,000$ in an asset that is to be leased to Lessee Corporation for five years with the annual

rental due in advance each year.

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Calculate, using PV tables, the amount of the annual rental payment, assuming there is no

purchase option that is reasonably certain to be exercised by the lessee $($under IFRS$),$and no

bargain purchase option $($under ASPE$)$ or residual value at the end of the lease. $($Round factor values

to $5$ decimal places, e$.$g$.1\mathrm{.}25124.$ Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Annual Rental Payment $

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