Exercise 13-7 Accounting for a sales-type lease (LO 13-1, LO 13-7) Glade Company leases specialized computer equipment to customers under sales-type leases. The equipment has no residual value at the end of the lease term, and the leases do not contain bargain purchase options. Glade wishes to earn 8% interest on a five-year lease of equipment with a fair value of $323,400. All of Glade's leases require annual payments beginning on the first day of the lease. Use tables (PV of 1, PVAD of 1, and PVOA of 1 (Use the appropriate factor(s) from the tables provided.) Required: Compute the gross lease payments receivable and total amount of interest revenue that Glade will earn over the life of the lease. (Round your intermediate calculations and final answers to 2 decimal places.)