On January 1, Lessee Company leases a vehicle with a fair value of $30,000 from Lessor Company for 3 years, with no renewal options. The estimated life of the vehicle is 6 years and Lessee Company has an option to purchase the vehicle at lease end at the vehicle's fair value, which the lessee is not expected to exercise. The monthly lease payment is $520, with the first payment due immediately. Lessee Company's incremental borrowing rate is 6% and the lessee is not readily able to determine the lessor's implicit interest rate. Title to the equipment remains with the lessor at lease end and the lessee does not guarantee the residual value at lease end. Lessee Company will pay for the maintenance of the vehicle separately from the lease.

please find the present value of lease payments!

Classifying Leases On Janwary 1, Lesuee Compary leasas a vehicle with a fair value of 530.000 from Lessor Company for 3 years, with no renewal options, The estimated ufe of the vehicle is 6 years and lessee Company has an option to purchase the wehicle at lease end at the vehides fair value, which the lessee is not expected to exercise. The monthly lease payment is. 5520, with the first payment due immedately. Lessee Company's incremental boetowing rate is 6w and the lessee is not readily able to determine the lessor s implict interest rate. Title to the equipment remains with the lessor at lease end and the lessee does not guarantee the residual value at lease end. Lessee Company will psy for the ma intenance of the vehicle separately from the lease 4. Delemine the dassificatan af the iease for Levies Corriany