lease liability. please show calculations

On December 31, 2024, Blossom Company leased machinery from Crane Corporation for an agreed-upon lease term of 3 years Blossom agreed to make annual lease payments of \\( \\$ 14,500 \\), beginning on December 31,2024 . The expected residual value of the machinery at the end of the lease term is \\( \\$ 7,000 \\). \\( x \\) Your answer is incorrect. What amount will Blossom record as its lease liability on December 31.2024, if its incremental borrowing rate is \4 and the implicit rate of the lease is unknown? (For calculation purposes, use 5 decimal ploces os displayed in the foctor toble provided and round final answer to 0 decimal places, eg. 5,275.) Click here to view factor tables. Lease liability Blossom guarantees a residual value of \\( \\$ 7,000 \\) at the end of the lease term. What if the expected residual value at the end of the lease term is \\( \\$ 4,000 \\) and Blossom guarantees a residual of \\( \\$ 7,000 \\) ? (For calculation purposes, use 5 decimol ploces as displayed in the foctor table provided and round final answer to 0 decimal ploces, e\\& 5,275.) Click here to view factor tables. Lease fiability