Shamrock Corporation purchased a piece of equipment for $93,000. Shamrock wanted to lease out the equipment to a customer for 6 years, at the end of which time the customer could purchase the equipment for $4,300 (at a time when its fair value would be $5,160). Annual payments on the lease would be due at the beginning of each year. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. In order to earn a 5% return, what minimum lease payments should Shamrock charge its customer for this equipment lease? (Round factor values to 5 decimal places, e.g. 1.25124. Round answer to O decimal places, e.g. 5,275.) $ Minimum lease payments TABLE PV.1 Present Value of 1 (n) periods 2% 212% 3% 4% 5% 1 0.98039 0.97561 0.97087 0.96156 0.95238 2 0.96117 0.95181 0.94260 0.92456 0.90703 3 4 0.94232 0.92860 0.91514 0.88900 0.86384 0.92385 0.90595 0.88849 0.85480 0.82270 0.90583 0.88385 0.86261 0.82193 0.78353 5 6 0.88797 0.86230 0.83748 0.79031 0.74622 7 0.87056 0.84127 0.81309 0.75992 0.71068 8 0.85349 0.82075 0.78941 0.73069 0.67684 9 0.83676 0.80073 0.76642 0.70259 0.64461 10 0.82035 0.78120 0.74409 0.67556 0.61391 11 12 0.80426 0.76214 0.72242 0.64958 0.58468 0.78849 0.74356 0.70138 0.62460 0.55684 0.77303 0.72542 0.68095 0.60057 0.53032 0.75788 0.70773 0.66112 0.57748 0.50507 13 14 15 0.74301 0.69047 0.64186 0.55526 0.48102 16 0.72845 0.67362 0.62317 0.53391 0.45811 17 0.71416 0.65720 0.60502 0.51337 0.43630 0.70016 0.64117 0.58739 0.49363 0.41552 18 19 0.68643 0.62553 0.57029 0.47464 0.39573 0.67297 0.61027 0.55368 0.45639 0.37689 20 5% 6% 7% 8% 9% 10% 11 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.90 0.90703 0.89000 0.87344 0.85734 0.84168 0.82645 0.8 0.86384 0.83962 0.81630 0.79383 0.77218 0.75132 0.73 0.82270 0.79209 0.76290 0.73503 0.70843 0.68301 0.65 0.78353 0.74726 0.71299 0.68058 0.64993 0.62092 0.5 0.74622 0.70496 0.66634 0.63017 0.59627 0.56447 0.5 0.71068 0.66506 0.62275 0.58349 0.54703 0.51316 0.48 0.67684 0.62741 0.58201 0.54027 0.50187 0.46651 0.4 0.64461 0.59190 0.54393 0.50025 0.46043 0.42410 0.3 0.61391 0.55839 0.50835 0.46319 0.42241 0.38554 0.3 0.58468 0.52679 0.47509 0.42888 0.38753 0.35049 0.3 0.55684 0.49697 0.44401 0.39711 0.35554 0.31863 0.28 0.53032 0.46884 0.41496 0.36770 0.32618 0.28966 0.25 0.50507 0.44230 0.38782 0.34046 0.29925 0.26333 0.23 0.48102 0.41727 0.36245 0.31524 0.27454 0.23939 0.20 0.45811 0.39365 0.33873 0.29189 0.25187 0.21763 0.18 0.43630 0.37136 0.31657 0.27027 0.23107 0.19785 0.10 0.41552 0.35034 0.29586 0.25025 0.21199 0.17986 0.19 0.39573 0.33051 0.27651 0.23171 0.19449 0.16351 0.13 0.37689 0.31180 0.25842 0.21455 0.17843 0.14864 0.12 D 8% 9% 10% 11% 12% 15% 58 0.92593 0.91743 0.90909 0.90090 0.89286 0.86957 44 0.85734 0.84168 0.82645 0.81162 0.79719 0.75614 30 0.79383 0.77218 0.75132 0.73119 0.71178 0.65752 90 0.73503 0.70843 0.68301 0.65873 0.63552 0.57175 99 0.68058 0.64993 0.62092 0.59345 0.56743 0.49718 34 0.63017 0.59627 0.56447 0.53464 0.50663 0.43233 75 0.58349 0.54703 0.51316 0.48166 0.45235 0.37594 01 0.54027 0.50187 0.46651 0.43393 0.40388 0.32690 93 0.50025 0.46043 0.42410 0.39092 0.36061 0.28426 35 0.46319 0.42241 0.38554 0.35218 0.32197 0.24719 09 0.42888 0.38753 0.35049 0.31728 0.28748 0.21494 01 0.39711 0.35554 0.31863 0.28584 0.25668 0.18691 96 0.36770 0.32618 0.28966 0.25751 0.22917 0.16253 82 0.34046 0.29925 0.26333 0.23199 0.20462 0.14133 45 0.31524 0.27454 0.23939 0.20900 0.18270 0.12289 73 0.29189 0.25187 0.21763 0.18829 0.16312 0.10687 57 0.27027 0.23107 0.19785 0.16963 0.14564 0.09293 86 0.25025 0.21199 0.17986 0.15282 0.13004 0.08081 51 0.23171 0.19449 0.16351 0.13768 0.11611 0.07027 42 0.21455 0.17843 0.14864 0.12403 0.10367 0.06110