ON Peridis Inc. has entered into a contract with an asset-based finance company to lease some equipment commencing January 1,20X1. The lease payments are $31,000 per year for eight years, with payments commencing at the start of each lease year. At the end of the lease, Peridis guarantees to either (1) acquire the equipment from the lessor for $14,000 or (2) pay for the lessor's cost of removing the equipment, which also is estimated at $14,000. Peridis's incremental borrowing rate for this amount and term is'estimated to be 6% and the lessor's implicit rate is unknown. Peridis's fiscal year ends on 31 December (PV of $1. PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.). Required: 1. Determine the present value of the lease payments. (Do not round intermediate calculations and round final answer to the nearest whole dollar amount.) Present value ishcies 2. Prepare a liability amortization table for this lease for Peridis (Do not round intermediate calculations and round final answers to the nearest whole dollar amount.] Date Lease payment Interest G% Balance 3 of 6 Next >>