Requirement a. What type of lease is this for both the lessee and lessor? Begin by identifying the present value of the lease payments. (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculation. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.000X. Round your final answer to the nearest whole dollar) The present value (PV) of the payments due under the lease is $ On January 1, 2019, Kit Kite Company leased a nonspecialized fabric-cutting machine from Terry Standard, Inc. (Click the icon to view the details of the lease.) Read the requirements Requirement a. What type of lease is this for both the lessee and lessor? Begin by identifying the present value of the lease payments. (Use the present value and future value tables, the formula method, a financial calculator, or a spreadsheet for your calculation. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.000X. Round your final answer to the nearest whole dollar) The present value (PV) of the payments due under the lease is $ On January 1, 2019, Kit Kite Company leased a nonspecialized fabric-cutting machine from Terry Standard, Inc. (Click the icon to view the details of the lease.) Read the requirements