E 6-20 On March 31, 2016, Southwest Gas leased equipment from a supplier and agreed to pay $200,000 annually for 20 years beginning March 31, 2017. Generally accepted accounting principles require Lease that a liability be recorded for this lease agreement for the present value of scheduled payments. payments; Accordingly, at inception of the lease, Southwest recorded a $2,293,984 lease liability. solve for unknown Required: interest rate Determine the interest rate implicit in the lease agreement