Problem 15-2 Finance lease (LO15-2] At the beginning of 2018, VHF Industries acquired a machine with a fair value of $7,872.960 by signing a three year lease The leases payable in three annual payments of $30 million at the end of each year of $1. PVS1 EVA of $1. PVA SEVAD OLS1 and PVAD of Su (Use appropriate factors) from the tables provided.) Required: 1. What is the effective rate of interest implicit in the agreement? 2-4. Prepare the lessee's journal entries at the beginning of the lease the first lease payment at December 31, 2018 and the second lease payment at December 31, 2019 5. Suppose the fair value of the machine and the lessor's implich rate were unknown at the time of the leate, but that the lessee's incremental borrowing rate of interest for notes of similar risk was 6%. Prepare the lessee's entry at the beginning of the lease Complete this question by entering your answers in the tabs below. Ret Red and 4 Red What is the effective rate of interest implicit in the agreement? The m ore 2 >