Georgia-Atlantic, Inc., leased warehouse equipment from Builders, Inc. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $530,475 over a 4-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018. Georgia-Atlantic's incremental borrowing rate is 10.0%, the same rate Builders used to calculate lease payment amounts. Builders manufactured the equipment at a cost of $3.1 million.what is the cost at which builders is "offering" the hardware (present value of the lease installments) at June 30, 2018. What sums related to the rent would Builders report in its balance sheet at December 31, 2018 (overlook taxes)? What sums related to the lease would Builders report in its income statement for the year ended December 31, 2018 (overlook the charges)?