Sithr Titanic Corporation leased executive limos under terms of a $13,500 first payment upon signing the lease and four equal annual payments of $25,000 on the anniversary date of the lease. The interest rate implicit in the lease is 12 %. The first year's interest expense would be: (EV of $1, PV of $1, FVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $9,480 $9,112 $6.480 Next > 4 of 10