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Question 23 225 pts Metcalf Company leases a machine from Vollmer Corp. under an agreement which meets the criteria to be a finance lease for Metcall The seven-year lease requires payment of $150,000 at the beginning of cy. The incremental borrowing rate for the lessee is 6% The lessor's implicit rate is 4% and is known by the lessee. Metcalf should record the leased asset at: 5837.357 5900,300 5887,599 5936,321 MacBook Pro D Question 24 2.25 pts On January 1, 2014, Saud corporation and re-year noncancelable lease for equipment. The terms of the lease called for Sauuer iu make annual payments of $200,000 at the beginning of each year for five years with the title passing to Sauder at the end of this period. The equipment has an estimated useful life of 7 years and no salvage value. Sauder uses the straight-line method of depreciation for all of its fixed assets. Sauder accordingly accounts for this lease transaction as a finance lease. The minimum lease payments were determined to have a present value of $833,973 at an effective interest rate of 10%. In 2014, Sauder should record interest expense of: O $119,139 O $83,973 O $ 63,397 $166,794 D Question 25 225 pts Mays Company has a machine with a cost of $500,000 which also is its fair value on the date the machine is used to Park Company The lease is for 3 years and the machine is estimated to have an unguaranteed residual value of $60,000 I the lessor's interest rate implicit in the base is 10%, the light beplanning of the year lease payments would be 597473 5502210 5101219 592011