On June 30, 2021. Kilgore, Inc. leased heavy construction equipment from Calder Company. The lease agreement calls for Kilgore to make semiannual lease payments of $2,634,546 over a three-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2021. Kilgore's incremental borrowing rate is 6%, the same rate Calder used to calculate lease payment amounts. Calder manufactured the equipment at a cost of $14.0 million (FV of S1, PV of $1. EVA of $1. PVA of $1. EVAD of S1 and PVAD of $1 (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price at which Calder is selling the equipment (present value of the lease payments) at June 30, 2021. 2. What amounts related to the lease would Calder report in its balance sheet at December 31, 2021? (ignore taxes.) 3. What would be the net effect of the lease that Calder would report in its income statement for the year ended December 31, 2021? Ignore taxes.) (For all requirements, round your intermediate calculations and final answers to the nearest whole dollar amount.) 1. Present value of the lease payments 2. Lease Recovable 3. Income statement o