Scenario 1: Here are some inputs for a noncancellable lease arrangement: .Semi-annual lease payment: $16,000 (used to determine PMT) Implicit rate: 7.5% (used to determine l/Y maybe?) incremental borrowing rate: 7% (used to determine I/Y maybe?) Lease term: 4 years (used to determine N) Unguaranteed residual value: $15,000 (used to determine FV maybe?) Calculate the present value of the minimum lease payments from the viewpoint of both the lessor and the lessee: PV of the minimum lease payments (lessor): PV of the minimum lease payments (lessee)