Renter Company acquired the use of a machine by agreeing to pay the manufacturer of the machine $900 per year for 6 years. At thetime the lease was signed, the interest rate for a 6 -year loan was 14%. Table 6-5. Note: Use appropriate factor from the table provided. Required: a. Calculate the amount that Renter Company could have paid at the beginning of the lease to buy the machine outright. b. What causes the difference between the amount you calculated in part a and the total of $5,400 ( $900 per year for 6 years) that Renter Company will pay under the terms of the lease? c. What is the appropriate amount of cost to be reported in Renter Company's balance sheet (at the time the lease was signed) with respect to this asset? Complete this question by entering your answers in the tabs below. Calculate the amount that Renter Compony could have paid at the beginning of the lease to buy the machine outright. Note: Round your answer to 2 decimal places. Table 6-5: Factors for Calculating the Present Value of an Annuity of $1