On January James Industries leased equipment to a customer for a four year period at which time possession of the leased asset will revert back to James. The equipment cost James $800,000 and has an expected useful life of six years. Its normal sales price is $800.000. The residual valuesher four years is $200,000 Lease payments are due on December 31 of each year beginning with the first payment at the end of the first year. The interest rate is 8%. Pest. Po 51 V 51. PASI EVAD S1 and PVADS (Use appropriate factors from the tables provided) Calculate the amount of the annual lease payments. (Enter amounts as positive values rounded to the nearest whole dollar) Guaranteed Residual Value Per Present value Amount to be covered terve Guaranteed rental varma Amount to be recovered through prece payments Lease Payment Thole or color function Lease Payment Amount of each ease payment