Financial accounting analysis exercise find the solution for better understanding

2. The lease payments from footnote disclosures of an operating lease Year Lease payments ($) 1. 2. 3. Year 4 and after 1,375 1,210 825 4,125 Assume a discount rate of 8%. Required: a. Calculate the PV of all the lease payments. b. Assume a 10% discount rate and a tax rate of 25%, so that the PV of all the lease payments is $5,220. Complete the I/S figures Income Statement Effects As Reported Adjustment Adjusted NOPAT $1,500 ?? ?? INT(1-tax rate) 475 ?? ?? NI $1,025