On March 31, 2021, Southwest Gas leased equipment from a supplier and agreed to pay $400.000 annually for 25 years beginning March 31, 2022. Generally accepted accounting principles require that a liability be recorded for this lease agreement for the present value of scheduled payments. Accordingly, at inception of the lease, Southwest recorded a $3.929.032 lease liability (FV of $1. PV of $1. FVA of S1, PVA of $1. FVAD of S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Determine the interest rate implicit in the lease agreement. (Do not round intermediate calculations.) 10 Present value of lease $ n 3,929,032 25 10% Lease payments