Marigold Leasing Company agrees to lease equipment to Swifty Corporntion on January 1, 2025. The following information relates to thin lease agreement. 2. The terin of the lease is 7 yearswith no renewal option, and the machinery has an estimated ecoriomic life of 9 years. 2. The cost of the machinery is $525,000, and the fair value of the asset on January 1,2025 , is $713,000 3. A the end of the lease term, the asset reverts to the lessor and has a guaranteed residual value of 345,000.5 wilty estimates that the expected residual value at the end of the lease terin will be $45,000. Swifty amortires all of its leased equipment on a strakht-line basis 4. The lease agreement requires equal annual pental payments, beginning on danuary 1.2025. 5. The collectidality of the lare parments is probsble. 6. Marigold desiresa 11W,rate of refum on its imestments Swifty's incremental borrowing rate is 12%, and the lessor's implicif rateis untenown. (Awumen the accounting period ends on Cecernbec as) Cilthere to vowrodion tabied. Calculate the amount of the annual rental payment required. (Round present volue foctor colculations to 5 decimal piaces, es. 1.25124 and the final onswer to Odeclinal ploces es.58.972) Anmualrental payment