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On June 30,2024 , Blue, Incorporated leased a machine from Large Leasing Corporation. The lease agreement calls for Blue to make semiannual lease payments of

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On June 30,2024 , Blue, Incorporated leased a machine from Large Leasing Corporation. The lease agreement calls for Blue to make semiannual lease payments of $214,208 over a four-year lease term, payable each June 30 and December 31 , with the first payment on June 30,2024 . Blues incremental borrowing rate is 12%, the same rate Big uses to calculate lease payment amounts, Depreclation is recorded on a straight-line basis at the end of each fiscal year. Large constructed the machine at a cost of $1,169.000. Note: Use tables, Excel, or a financiol colculator. (EV ofS1. PV of S1. EVA of S1. PVA of S1. EVAD of S1 and PVAD of \$1) Required: 4. Determine the price at which Large is "selling" the machine (present value of the lease payments) on June 30, 2024. 2. What would be the amounts related to the lease that Large would report in its balance sheet at December 31, 2024? (Ignore taxes? 3. What would be the amounts related to the lease that Large would report in its income statement for the year ended December 31, 2024? (Ignore taxes.) Note: For all the requirements, round final onswers to the nearest whole dollar omounts

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