Problem 20-15 Bramble Corporation manufactures specialty equipment with an estimated economic life of 12 years and leases it to Blue Spruce Airlines Corp. for a period of 10 years. Both Bramble and Blue Spruce Airlines follow ASPE. The equipment's normal selling price is $189,926 and its unguaranteed residual value at the end of the lease term is estimated to be $16,000. Blue Spruce Airlines will make annual payments of $23,300 at the beginning of each year and pay for all maintenance and insurance. Bramble incurred costs of $108,400 in manufacturing the equipment and $7,560 in negotiating and closing the lease. Bramble has determined that the collectibility of the lease payments is reasonably predictable, that no additional costs will be incurred, and that the implicit interest rate is 9% Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. Using tables, a financial calculator, or Excel functions, calculate the PV of the lease payments and unguaranteed residual value under the lease. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275.) PV of the lease payments and unguaranteed residual value