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Michelle Morris is presently leasing a small business computer from Eller Office Equipment Company. The lease requires 10 annual payments of $7.000 at the end

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Michelle Morris is presently leasing a small business computer from Eller Office Equipment Company. The lease requires 10 annual payments of $7.000 at the end of each year and provides the lessor (Eller) with an 9% return on its investment. You may use the following 9% interest factors: 9 Periods 10 Periods 11 Periods Future Value of 1 2.17189 2.36736 2.58043 Present Value of 1 0.46043 0.42241 0.38753 Future Value of Ordinary Annuity of 1 13.02104 15.19293 17.56029 Present Value of Ordinary Annuity of 1 5.99525 6.41766 6.80519 Present Value of an Annuity Due of 1 6.53482 6.99525 7.41766 (a) Your answer is correct. Assuming the computer has a ten-year life and will have no salvage value at the expiration of the lease, what was the original cost of the computer to Eller? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to decimal places, eg. 458,581.) 44923.62 Original Cost $ What amount would each payment be if the 10 annual payments are to be made at the beginning of each period? (Round factor values to 5 decimal places, eg 1.25124 and final answer to decimal places, eg. 458,581.) Each payment $

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