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On June 1, 2024, Lone Pine leased a building. The lease agreement calls for Lone Pine to make lease payments of $3,624.84 each month for the next two years, with the first lease payment beginning June 30. The company's normal borrowing rate is 9%. Required: 1. Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) 2. Record the lease on June 1, 2024. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.) (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Present value of lease payments < Required 'I, Required 2 >