Question 5 of 10 0/2.5 Crane Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2020. The lease is for an8-year period and requires equal annual payments of $30.688at the beginning of each year. The first payment is received on January 1, 2020. Crane had purchased the machine during 2019 for $115,000. Collectibility of lease payments by Crane is probable. Crane set the annual rental to ensure a6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Crane at the termination of the lease. Click here to view factor tables. Part 1 Your Answer Correct Answer (Used) Compute the amount of the lease receivable. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to O decimal places e.g. 5,275.) Amount of the lease receivable $ 202,000