Exercise 21A-4 a-d (Part Level Submission) Assume that on December 31, 2016, Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffield Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $68,199 beginning on December 31, 2016 2. The fair value of the building on December 31, 2016 is $498,399. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $9,000, and an expected residual value of $4,900. Kimberly- Clark depreciates similar buildings on the straight-line method The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. 4. 5, Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Exercise 21A-4 a-d (Part Level Submission) Assume that on December 31, 2016, Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage building from Sheffield Storage Company. The following information pertains to this lease agreement. 1. The agreement requires equal rental payments of $68,199 beginning on December 31, 2016 2. The fair value of the building on December 31, 2016 is $498,399. 3. The building has an estimated economic life of 12 years, a guaranteed residual value of $9,000, and an expected residual value of $4,900. Kimberly- Clark depreciates similar buildings on the straight-line method The lease is nonrenewable. At the termination of the lease, the building reverts to the lessor. Kimberly-Clark's incremental borrowing rate is 8% per year. The lessor's implicit rate is not known by Kimberly-Clark. 4. 5, Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)