On June $30,2024,$ Blue, Incorporated leased a machine from Big Leasing Corporation. The lease agreement qualifies as a finance

lease and calls for Blue to make semiannual lease payments of $$165,969$ over a five$-$year lease term, payable each June $30$ and

December $31,$ with the first payment on June $30,2024.$ Blue's incremental borrowing rate is $8\%,$ the same rate Big uses to calculate

lease payment amounts.

The lease agreement qualifies as a finance lease. Amortization is recorded on a straight$-$line basis at the end ears years

Note: Use tables, Excel, or a financial calculator. $($EV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

Determine the present value of the lease payments on June $30,2024,$ that Blue uses to record the right$-$of$-$use asset and lease

liability.

What would be the amounts related to the lease that Blue would report in its balance sheet at December $31,2024?($Ignore

taxes.$)$

What would be the amounts related to the lease that Blue would report in its income statement for the year ended December $31,$

$2024?($Ignore taxes.$)$

Note: For all requirements, round your intermediate and final answers to the nearest whole dollar amounts.