Saved re to honek Assignment i Help Se On June 30, 2018, Georgia-Atlantic, Inc., leased warehouse equipment from Builders, Inc. The lease agreement calls for Georgia- Atlantic to make semiannual lease payments of $512,709 over a 5-year lease term, payable each June 30 and December 31, w first payment at June 30, 2018 Georgia Atlantics incremental borrow grate s 12.0% the same rate Builders used to calcul telease payment amounts. Builders manufactured the equipment at a cost of $3.5 million. (FV of $1, PV of $1, FVA of $1, PVA of $1 equipment at a cost of $3.5 million. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of S1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: the price at which Builders is "selling" the equipment (present value of the lease payments) at June 30, 2018. 2. What amounts related to the lease would Builders report in its balance sheet at December 31, 2018 (ignore taxes)? 3. What amounts related to the lease would Builders report in its income statement for the year ended December 31, 2018 (ignore taxes)? (For all requirements, enter your answers in whole dollars enter your answers in whole dollars and not in millions. Round your final answer to nearest whole dollar.) ces 1. Present value 2. Amount to be reported in the balance sheet 3. Amount to be reported in the income statement Next Next