Problem 21-07 (Part Level Submission) Metlock Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it to Chambers Medical Center for a period of 10 years. The normal selling price of the machine is $497,041, and its guaranteed residual value at the end of the non-cancelable lease term is estimated to be $15,900. The hospital will pay rents of $60,100 at the beginning of each year. Metlock incurred costs of $249,000 in manufacturing the machine and $13,800 in legal fees directly related to the signing of the lease. Metlock has determined that the collectibility of the lease payments is probable and that the implicit interest rate is 5%. Click here to view factor tables. Discuss the nature of this lease in relation to the lessor. Collapse question part The nature of this lease in relation to the lessor is Compute the amount of each of the following items. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 0 decimal places, e.g. 5,275.) (1) Lease receivable at commencement of the lease (2) Sales price (3) Cost of sales Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 3 used