On June 1, 2024, First National leased a bualding. The lease agreement calls for First National to make lease payments of $3.647.04 each month for the next two years. with the first lease payment beginning June 30. The company'5 normal bortowing rate is 76 . Required: 1. Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) 2. Record the lease on June 1, 2024 Complete this question by entering your answers in the tabs below. Colculate the present value of the lease payments, (hint: Use a financial calculator or Fxcel.) (Do not round intermiediate Calculations. Mound your answer to the nearest whole dollar amsount.) On June 1, 2024. First National leased a building. The lease agreement calls for First National to make lease payments of $3.647.04 each month for the next two years, with the first lease payment beginning June 30 . The company's normal borrowing rate is 7 . Required: 1. Calculate the present value of the lease payments. (Hint: Use a financhal calculator or Excel.) 2. Fecord the lease on hune 1. 2024 . Complete this question by entering your answers in the tabs below. Pecord the lease on fune 1, 3024 . (Do not round intermediate calculations. If no entry is reguired for a particular trarsectionvevent. select "Wo hournal titry fleguired" in thie first account field.) Journal entry worksheet