On January 1, 2028, XYZ Company leased equipment from Young Leasing Company. The lease terms require annual payments of $100,000 for five years with the first payment being due on December 31, 2028. The interest rate on the lease is 10%, and XYZ Company will amortize the leased asset using the straight line method. At January 1, 2028, the equipment had an eight year remaining useful life and the lease contract requires the equipment to be returned to Young Leasing Company at the end of the lease Calculate the balance in the leased asset account reported in XYZ Company's December 31, 2029 balance sheet. You will need to use the time value of money table factors posted in carmen to answer this question. To access these factors, click modules and then scroll to week 10. Click on the link labeled present & future value table factors. No credit will be awarded for this question using a means other than these posted table factors to answer this question. On January 1, 2028, XYZ Company leased equipment from Young Leasing Company. The lease terms require annual payments of $100,000 for five years with the first payment being due on December 31, 2028. The interest rate on the lease is 10%, and XYZ Company will amortize the leased asset using the straight line method. At January 1, 2028, the equipment had an eight year remaining useful life and the lease contract requires the equipment to be returned to Young Leasing Company at the end of the lease Calculate the lease liability balance at December 31, 2030 after the third lease payment is made. You will need to use the time value of money table factors posted in carmen to answer this question. To access these factors, click modules and then scroll to week 10. Click on the link labeled present & future value table factors. No credit will be awarded for this question using a means other than these posted table factors to answer this question. Future Value of a Lump-Sum 6% 8% Periods % 1.015 4 1.020 S 1.025 6 1.030 7 1.035 8 1.040 9 1.045 10 1.051 12 1.061 15 1.077 16 1.083 17 1.088 18 1.093 19 1.099 20 1.104 21 1.110 22 1.116 23 1.121 24 1.127 25 1.132 1.348 3% 1.092 1.125 1.159 1.194 1.229 1.266 1.304 1.343 1.425 1.558 1.604 1.652 1.702 1.753 1.806 1.860 1.916 1.974 2.033 2.094 5.891 5% 1.157 1.215 1.278 1.340 1.407 1.478 1.551 1.629 1.795 2.078 2.182 2.292 2.406 2.527 2.653 2.786 2.925 3.071 3.225 3.386 18 679 Rate of interest per period in percent 9% 10% 12% 15% 20% 1.191 1.259 1.295 1.331 1.404 1.520 1.728 1.263 1:360 1.411 1.464 1.573 1.749 2.073 1.338 1.469 1.538 1.610 1.762 2.011 2.488 1.418 1.586 1.677 1.771 1.973 2.313 2.986 1.503 1.713 1.828 1.948 2.210 2.660 3.583 1.594 1.851 1.992 2.144 2.476 3.059 4.299 1.689 1.999 2.171 2.357 2.773 3.517 5.159 1.790 2.159 2.367 2.594 3.105 4.045 6.191 2.012 2.518 2.812 3.138 3.896 5.350 8.916 2396 3.172 3.642 4.177 5.473 8.137 15.407 2.540 3.425 3.970 4 593 6.130 9.357 18.488 2.692 3.700 4.327 5.054 6.866 10.761 22.186 2.854 3.996 4.717 5.559 7.690 12.375 26,623 3.025 4.315 5.141 6.115 8.612 14.231 31.948 3.207 4.661 5.604 6.727 9.646 16.366 38.337 3.399 5.033 6.108 7.400 10.803 18.821 46.005 3.603 5.436 6658 8.140 12.100 21.644 55.206 3.819 5.871 7.257 8.954 13.552 24.891 66.247 4.048 6.341 7.911 9.849 15.178 28.625 79.496 4.291 6.848 8.623 10.834 17.000 32.919 95.396 32.987 101 257 176,031 304.482897.597 4383.99563475 60 Periods 3 4 5 6 7. 8 9 10 12 15 16 17 18 19 20 21 22 23 24 25 60 %% 0.985 0.980 0.975 0.970 0.965 0.960 0.956 0.951 0.941 0.927 0.923 0.918 0.914 0.909 0.905 0.900 0.896 0.891 0.887 0.882 0.741 39% 0.915 0.888 0.862 0.838 0.813 0.789 0.766 0.744 0.701 0.641 0.623 0.605 0.587 0.570 0.553 0.537 0522 0 507 0.492 0.478 0.169 5% 0.863 0.822 0.783 0.746 0.710 0.676 0.644 0.613 0.556 0.481 0.458 0.436 0.415 0.395 0.376 0358 0.341 02325 0310 0.295 0.053 Present Value of a Lump-Sum Rate of interest per period in percent 6% 90% 10% 0.840 0.793 0.772 0.751 0.792 0.735 0.708 0.683 0.747 0.680 0.649 0.621 0.705 0.631 0.596 0.564 0.665 0.583 0.547 0.513 0.627 0.540 0.501 0.466 0.592 0.500 0.460 0.424 0.358 0.463 0.422 0.385 0.497 0.397 0.356 0,318 0.41 0.315 0.274 0.239 0.393 0.291 0.251 0.217 0.371 0.270 0.231 0.197 0.350 0.250 0.212 0.179 0.330 0.231 0.194 0.163 0.311 0214 0.178 0.148 0.294 0.198 0.163 0.135 0.277 0.183 0.150 0.122 0.261 0.170 0.137 0.111 0.247 0.157 0.126 0.101 0.213 0.146 0.116 0.092 0.030 0.009 0.005 0.003 12% 0.712 0.635 0.567 0.507 0.452 0.403 0,360 0.322 0.257 0.183 0.163 0.145 0.130 0.116 0.103 0.092 0.082 0.073 0.065 0.058 0.001 1.5% 0.657 0.571 0.497 0.432 0.375 0.326 0.284 0.247 0.186 0.122 0.106 0.092 0.080 0.070 0.061 0.053 0.046 0.040 0.014 0.030 0.001 20% 0.578 0.482 0.401 0.334 0.279 0.232 0.193 0.161 0.112 0.064 0.054 0.045 0.037 0.031 0.026 0.021 0.018 0.015 0.012 0.010 0.001 Future Value of an Annuity Periods 3 3.015 4 4.030 5 5.050 6 6,075 7 7.105 8 8.14 9 9.1821 10 10.228 12 12.335 15 15.536 16 16.614 17 17.697 18 18.785 19 19.879 20 20.979 21 22.084 22 23.194 23 24310 24 25.432 25 26.559 60 69.770 Rate of interest per period in percent 3% 5% 6% 8% 9% 10% 12% 15% 20% 3.090 3.152 3.183 3.246 3.278 3.310 3.374 3.472 3.640 4.183 4.310 4.374 4.506 4.573 4.641 4.779 4.993 5368 5.309 5.525 5.637 5.867 5.985 6.105 6.353 6.742 7.441 6.468 6.801 6.975 74336 7.523 7.715 8.115 8.753 9.929 7.662 8.142 8.393 8.925 9.200 9.487 10.089 11.066 12915 8.892 9.549 9.897 10.636 11.028 11.435 12 299 13.726 16,499 10.159 11.026 11.491 12.487 13.021 13.579 14.775 16.785 20.798 11.464 12.580 13.180 14.486 15.193 15.937 17.549 20.303 25.958 14.192 15.917 16.870 18.977 20.140 21.384 24.133 29.001 39.580 18.599 21.578 23.276 27.152 29 360 31.772 37.280 47.580 72035 20.156 23.657 25.672 30.324 33.003 35.949 42.753 55.717 87.442 21.761 25.840 28.218 33.750 36,973 40.544 48.883 65.075 105.931 23.414 28.150 30.905 37.450 41.301 45.599 55.749 75.836 128.117 25.116 30.539 33.759 41.446 46.018 51.159 63.439 88.211 154.740 26.870 33.065 36.785 45.762 51.160 57.275 72.052 102.444 186.688 28.676 35.719 39.992 $0.422 56.764 64.002 81.698 118.810 225.026 30.536 38.505 43.392 55,456 62.873 71.402 92 502 137.632 271.031 32.452 41.430 46.995 60.893 69.531 79.543 104.603 159.276 326 237 34.426 44.502 50.815 66.764 76.789 88.497 118.155 184.168 392.484 36.459 47.727 34.864 73.105 84.700 98 347 133.334 212.793 471.981 163.053 353.584 533.128 1253.21 1944.79 3034.82 7471.64 29219.9 281732 Present Value of an Annuity Periods 3 4 5 6 7 ONO 9883 2.970 3.950 4.925 5.896 6.862 7.823 8.779 9.730 11.618 14.416 15.339 16.258 17.172 18082 18.987 19.888 20.784 21.675 22 562 23.445 51.725 10 12 15 16 17 18 19 20 21 22 23 24 25 60 2.828 3.717 4.579 5.417 6.230 7.019 7.786 8.530 9.954 11.937 12.561 13.166 13.753 14.323 14.877 15.415 15.936 16.443 16.935 17,413 27.675 5% 2.723 3.546 4.329 3.076 5.786 6.463 7.108 7.721 8,863 10.379 10.837 11.274 11.689 12.085 12.460 12.821 13.163 13.488 13.798 14.093 18.929 Rate of interest per period in percent 89 99% 10% 2.673 2.577 2.531 2.487 3.465 3.312 3.239 3.170 4.212 3.992 3.889 3.790 4.917 4.485 4355 5.582 5.206 5.033 4.868 6.209 5.746 5.534 5.334 6.801 6.247 5.995 5.759 7.360 6.710 6.417 6.145 8.383 7.536 7.160 6.813 9.712 8.559 8.060 7.606 10.105 8.851 8312 7.823 10.477 9.121 8.543 8.021 10.827 9.371 8.755 8.201 11.158 9.603 8.950 366 11.469 9.818 9.128 8 $20 11.764 10.016 9.292 8.548 12.041 10.200 9.442 8.771 12 303 10.371 9.580 8.853 12.550 10.528 9.706 8.984 12.783 10,674 9.822 9,077 16.161 12376 11.048 9.967 12% 2.402 3.037 3.604 4.111 4.563 4.967 5328 5.650 6.194 6.810 6.974 7.119 7249 7.365 7.469 7562 7.644 7.718 7.784 7843 8324 20 2.106 2588 2.990 3325 3.604 3.837 4.031 4.193 42439 4.675 4.729 4.774 4812 15% 22283 2.855 3.352 3.784 4.160 4.487 4.771 5.018 5.420 5.847 5.954 6047 6.128 6.199 6.2.59 6.312 6.358 6.395 6.433 6.454 6.665 4869 4.891 4.909 4.924 4.937 4947 4999