On June 30, 2021, Air Jordan Company leased a jumbo jet from Boeing Corporation. The fair market value of the jet was $1,187,800. The terms of the lease require Air Jordan to make 20 annual payments on each June 30. Assuming that the first payment will be made on June 30, 2021 and that a 5% interest rate properly reflects the time value of money in this situation, what is the annual lease payment required by Air Jordan? Here are the factors to use. USE ONLY THESE FACTORSI FVAD I-5% FVA 15% PVAD I-5% PVA 15% 20 periods 20 periods 20 periods 20 periode 34.7101 13.08532 12.46221 30.0660