Edison Leasing leased high$-$tech electronic equipment to Manufacturers Southern on January $1,2024.$ Edison purchased the equipment from International Machines at a cost of $$124,782.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

$\backslash$table$[[$Related Information:,$],[$Lease term,$2$ years $(8$ quarterly periods$)],[$Quarterly rental payments,$$16,700$ at the beginning of each period$],[$Economic life of asset,$2$ years$],[$Fair value of asset,$$124,782$