Pearl Company, a machinery dealer, leased manufacturing equipment to Mays Corporation on January 1,2017. The lease is for a 7 . year period and requires equal annual payments of $27,450 at the beginning of each year. The first payment is received on January 1. 2017. Pearl had purchased the machine during 2016 for $91,000. Collectibility of lease payments is reasonably predictable, and no important uncertainties surround the amount of costs yet to be incurred by Pearl. Pearl set the annual rental to ensure an 10% rate of retoin. The machine has an economic life of 8 years with no residual value and reverts to Pearl at the termination of the lease. (a) Compute the amount of the lease receivable. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to 0 decimal places e.g. 58,971.) Lease Receivable \$