On June 1, 2024, Lone Pine leased a building. The lease agreement calls for Lone Pine to make lease payments of $3,624.84 each month for the next two years, with the first lease payment beginning June 30. The companys 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 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