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Sunland Company, a machinery dealer, leased a machine to Carla Vista Corporation on January 1 , 2 0 2 5 . The lease is for

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Sunland Company, a machinery dealer, leased a machine to Carla Vista Corporation on January 1,2025. The lease is for an 8-year period and requires equal annual payments of $29,928 at the beginning of each year. The first payment is received on January 1,2025. Sunland had purchased the machine during 2024 for $150,000. Collectibility of lease payments by Sunland is probable. Sunland set the annual rental to ensure a 6% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Sunland at the termination of the lease.
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(a)
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Compute the amount of the lease receivable. (For calculation purposes, use 5 decimal places as displaved in the factor table provided and round final answer to 0 decimal places e.g.5,275.)
Amount of the lease receivable
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