Deal Leasing leased equipment to Hand Company on January 1, 2016. The lease payments were calculated to provide the lessor a 10% return. Ten annual lease payments of $69,000 are due at the beginning of each year beginning January 1, 2016. The present value of an annuity due of 1 at 10 for Ten periods is 6.75902. Assume the risks and rewards of ownership were presumed to have been transferred to the lessee.