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Riverbed Corparation leased equipment to Marin, Inc. on January 1 , 2 0 2 5 . The lease agreement called for $ 1 . 4

Riverbed Corparation leased equipment to Marin, Inc. on January 1,2025. The lease agreement called for $1.492 at the beginning of each year of the 2-year lease. The equipment has an economic useful life of 6 yt book value of $6.420. and Riverbed expects a residual value of $5,920 at the end of the lease term. Rivert with the intent of earning a 4% return, though Marin is unaware of the rate implicit in the lease and has ar of 6%. There is no bargain purchase option, ownership of the lease does not transfer at the end of the leas of a specialized nature
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(For calaulation purposes, use 5 decimal places as displayed in the factor table provided.)
(a)
What is the amount of the rental payments used in the lease agreement? (Round answer to O decimal pla
Rental payments
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