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 $220,000 annually for 25 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 $2,348,451 lease liability. Required: Determine the interest rate implicit in the lease agreement. Note: Use tables, Excel, or a financial calculator. (EV of $1. PV of $1. EVA of $1, PVA of $1. EVAD of $1 and PVAD of $1) Present value of lease: n Lease payments Check m