QUESTION 8.3 (24 marks) Apple Tree Co. is a farming equipment dealer who reports using IFRS. It plans to lease a piece of farming equipment to Seed Inc. and wants to earn a profit on the equipment as well as earn interest. The details of the lease are as follows: . It will be a 5 year lease and will have annual rental payments d the year. the beginning of The rate of return Apple Tree Co. wants to earn on the equipment is 7%. The estimated residual value (guaranteed) is $10,000 (the present value of which is $7,130) The annual lease payments are $55,359 (the present value of which is $242,870); and The leased equipment has a $200,000 cost to the dealer, Apple Tree Co. Required Calculate the following for Apple Tree Co: a. Gross investment b. Unearned interest income C. Sales revenue d. Cost of goods sold e. Gross profit