Leased Asset Hopper Corporation signed a ten-year capital lease or finance lease on January 1, 2017. The lease requires annual payments of $8,000 every December 31. Use the appropriate present value table: PV of $1, PV of Annuity of $1 Required: 1. Assuming an interest rate of 10%, calculate the present value of the minimum lease payments. Round your answer to the nearest whole dollar. 2. Hopper should report a long term liability to accompany its capitalized leased asset equal to an amount less than $80,000 to reflect time value of money