Metlock Company leases an automobile with a fair value of $$16,786$ from Donald Motors, Inc., on the following terms.

Non$-$cancelable term of $50$ months.

Rental of $$350$ per month $($at the beginning of each month$).($The present value at $0\mathrm{.}5\%$ per month is $$15,527.)$

Metlock guarantees a residual value of $$1,170($the present value at $0\mathrm{.}5\%$ per month is $$912).$ Metlock expects the probable residual value to be $$1,170$ at the end of the lease term.

Estimated economic life of the automobile is $60$ months.

Metlock's incremental borrowing rate is $6\%$ a year $(0\mathrm{.}50\%$ a month$).$ Donald's implicit rate is unknown.

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$($For calculation purposes, use $5$ decimal places as displayed in the factor table provided.$)$