On June 1, 2024, Lone Pine leased a building. The lease agreement calls for Lone Pine to make lease payments of $3,644.82 each month for the next two years, with the first lease payment beginning June 30. The company's normal borrowing rate is 9%.

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.

Required 1 Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)

Present value of lease payments

On June 1, 2024, Lone Pine leased a building. The lease agreement calis for Lone Pine to make lease payments of $3,644.82 each month for the next two years. with the first lease payment beginning June 30 . The company's normal borrowing rate is 9%. 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. Calculate the present value of the lease payments: (Hint: Use a financial calculator or Excel.) (Do not round intermediate calculations. Round your answer to the nianest whole dollar amount) On June 1,2024, Lone Pine leased a building. The lease agreement calls for Lone Pine to make lease payments of $3.644.82 each month for the noxt two years, with the first lease payment beginning June 30 . The company's normal borrowing rate is 9%. 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. Record the lease on June 1, 2024. (Do not round intermediate calculations, If no entry is required for a particular transaction/event, select "No Joumal Entry Required" in the first account field.)