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Sandhill Company has a machine with a cost of $714000 which also is its fair value on the date the machine is leased to

Sandhill Company has a machine with a cost of $714000 which also is its fair value on the date the machine is leased to Pronghorn Company. The lease is for 6 years and the machine is estimated to have an unguaranteed residual value of $71000. If the lessor's interest rate implicit in the lease is 11%, the 6 beginning-of-the-year lease payments would be (Round factor value calculation to 5 decimal places, e.g. 1.25124) Click here to view factor tables.

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