On December 31, 2019, Shamrock Corporation signed a 6-year, non-cancelable lease for a machine. The terms of the lease called for Shamrock to make annual payments of $12,165 at the beginning of each year, starting December 31, 2019. The machine has an estimated useful life of 8 years and a $5,700 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Shamrock uses the straight-line method of depreciation for all of its plant assets, Shamrock's incremental borrowing rate is 8%, and the lessor's implicit rate is unknown. Click here to view factor tables. (a) 3 Your answer is correct FAM Rain off and on 9 DR pitse home 2