George Company manufactures a check-in kiosk with an estimated economic life of 12 years and leases it to National Airlines for a period of 10 years. The normal selling price of the equipment is $299,140, and its unguaranteed residual value at the end of the lease term is estimated to be $20,000. National will pay annual payments of $40,000 at the beginning of each year, George incurred costs of $180,000 in manufacturing the equipment and $4,000 in sales commissions in closing the lease. George has determined that the collectibility of the lease payments is probable and that the implicit interest rate is 8%. Click here to view factor tables. (a) Discuss the nature of this lease in relation to the lessor This is a Compute the amount of each of the following items. (Round present value factor calculations to 5 decimal places, eg. 1.25 124 and the final answers to decimal places, eg. 5,275.) (1) Lease receivable $ (2) Sales price $ (3) Cost of sales $