Exercise 5-26 (Algo) Lease payments; solve for unknown interest rate [LO5-9, 5-10] On March 31, 2024, Southwest Gas leased equipment from a supplier and agreed to pay $340,000 annually for 16 years beginning March 31, 2025. Generally accepted accounting principles require that a liability be recorded for this lease agreement for the present value of scheduled payments. Accordingly, at inception of the lease, Southwest recorded a $3,009,466 lease liability. Required: Determine the interest rate implicit in the lease agreement. Note: Use tables, Excel, or a finencial calculator. (FV of S1, PV of S1. EVA of S1. PVA of S1, EVAD of S1 and PVAD of S1)