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Pharoah Company has a machine with a cost of $ 786000 which also is its fair value on the date the machine is leased to

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Pharoah Company has a machine with a cost of $ 786000 which also is its fair value on the date the machine is leased to Park Company. The lease is for 6 years and the machine is estimated to have an unguaranteed residual value of $ 79000. If the lessor's interest rate implicit in the lease is 10%, the 6 beginning-of-the-year lease payments would be 164065 154757 147575 131000

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