Required information [The following information applies to the questions displayed below.] High Time Tours leased rock-climbing equipment from Adventures Leasing on January 1, 2024. High Time has the option to renew the lease at the end of two years for an additional three years for $9,000 per quarter. Adventures purchased the equipment at a cost of $212,218. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1,FVAD of $1 and PVAD of $1 )