Question 27 On January 1, 2020, Omar Incorporated leased a machine to a customer for a period of six year, after which possession of leased asset will revert back to Omar. The machine costs P800,000 with an expected useful life of eight years. The machine would normally sell for P800,000. The residual value after six years is P125,000, guaranteed by the lessee. Accordingly, lease payments are due on December 31 of each year, with the first payment at the end of 2020. Assuming an interest rate of 5%, calculate the amount of annual lease payments. Round off final answer to nearest peso. Question 28 For 2020, Patrick Incorporated promoted their new latest flick with a sales promotion campaign. Two coupons from marked boxes of partner brand Kevin Cereals are redeemable for one online ticket for their movie. Each Cereals box contains one coupon. Patrick estimates that 45% of the coupons will be redeemed. Tickets normally cost Patrick P149 each. Patrick purchased 25,000 tickets for the promo. At the end of 2020, 65,000 boxes were sold and 23,600 coupons were actually redeemed. What is the estimated liability for premium claims outstanding at December 31, 2020? Round off answer to nearest peso