Exercise 3. Mays Company has a machine with a cost of $750,000 which also is its fair value on the date the machine is leased to Park Company. The lease is for 6 years and the machine is estimated to have an unguaranteed residual value of $75,000. The lessor's rate of return in the lease is 12% and the lease payments are made at the beginning of the year. Required: Calculate the lease payments. Show and label all calculations Write the answer on the line provided. Lease Payment PV Annuity Due 4.60478 PV Ordinary Annuity 4.11141 PV Single Sum 50663 12%, 6 periods Focus 3 ? GP a 9 *