PLA21A 8) The following facts pertain to a non-cancelable lease agreement between Mooney Company and Rode Company Commencement date Jan 1, 2017 Annual lease payment due at the beginning of each year, beginning with Jan 1, 2017 $20,47194 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment Lessor's cost Fair value of asset at Jan 1, 2017 Implicit rate known by both parties Incremental borrowing rate $ 4,000.00 5 years 10 years $65,000.00 $91,000.00 10% Collectability of the lease payments by Mooney Instructions: Answer the following questions with the above information. a) Who is the lessor in this contract? Mopnss Ca b) Who is the lessee in this contract? Rode Com c) Which interest rate the lessor will use to determine present values? d) What are the lease payments in this contract (provide name and amount)? en PaymentPresent Value Factor frequency during from CH6 tables Present Value at Jan 1, 2017 Lease payment type lease term e) What is the lessee's present value of the lease payments? S f) Which lease classification tests are positive in this contract (say Yes or No and why)? #1 #2 #3 #4 #5 What type of lease is this one for the lessor? g)