Exercise 21A-9 a-b (Part Level Submission) Ivanhoe Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2017. The lease is for an 8-year period and requires equal annual payments of $31,300 at the beginning of each year. The first payment is received on January 1, 2017. Ivanhoe had purchased the machine during 2016 for $170,000 Collectibility o ease payments by vanhoe is probable vannoe set he annua rental to ensure a 796 rate of return. The machine ha . norm life of 10 years with no residual value and reverts to Ivanhoe at the termination of the lease. Assume that Dexter Corporation does not know the rate implicit in the lease used by Ivanhoe, and Dexter's incremental borrowing rate is 9%. In addition, assume that Dexter incurs initial direct costs of $13,000 Click here to view the factor table. Compute the amount of the lease liability and right-of-use asset for Dexter. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to o decimal places e.g. 5,275.) Lease liability Right-of-use asset Click if you would like to Show Work for this question: Open Show Work