Question 1 Incorrect Mark 0.00 out of 1.00 Pag question Calculating Lessor Payment-Unguaranteed Residual Value Marshall Inc. is negotiating an agreement to lease equipment to a lessee for 5 years. The equipment has a useful life of 8 years. The fair value of the equipment is $40,000 and the lessor expects a rate of return of 5% on the lease contract. Marshall Inc. expects the equipment to have a fair value of $15,000 at the end of 5 years; however, the lessee does not guarantee the residual amount. If the first annual payment is required at the commencement of the lease, what fixed lease payment should Marshall Inc. charge in order to earn its expected rate of return on the contract? Note: Round your answer to two decimal places Note: Do not use a negative sign with your answer. Lease payment $ 6,52437 Check