Peters Company leased a machine from Johnson Corporation on January 1, 2018. The machine has a fair value of $13,000,000. The lease agreement calls for five equal payments at the end of each year. The useful life of the machine was expected to be five years with no residual value. The appropriate interest rate for this lease is 10%. Other information: PV of an ordinary annuity @10% for 5 periods: 3.79079 PV of an annuity due @10% for 5 periods: 4.16987 Required: 1. Determine the amount of each lease payment. Prepare the appropriate journal entry for the lessee. 2) Record the entry for Peters Company at the beginning of the lease. 3) Record the entry for the first lease payment. (ignore amortization) 4) Record the entry for the second lease payment