QUESTION 7 Eastern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018 Other information Lease term 3 years Annual payments $80,000 on January 1 each year Life of asset 3 years Implicit interest rate 8% PV, annuity due, 3 periods, 8% 2.7833 PV, ordinary annuity. 3 periods, 8% 2.5771 Hi-Tech's cost of the equipment $222,664 There is no expected residual value s for Hi-Tech Leasing for 2018 and 2019. Assume a December 31 year-end. Round your answers to the nearest whole dollar amounts Click Saue and Submit to save and submit. Click Save All A