TB Problem 15-182 (Algo) On June 30, 2024, Blue, Incorporated leased a machine from... On June 30, 2024, Blue, Incorporated leased a machine from Big Leasing Corporation. The lease agreement qualifies as a finance lease and calls for Blue to make semiannual lease payments of $209,243 over a four-year lease term, payable each June 30 and December 31 , with the first payment on June 30,2024 . Blue's incremental borrowing rate is 10%, the same rate Big uses to calculate lease payment amounts. The lease agreement qualifies as a finance lease. Amortization is recorded on a straight-line basis at the end of each year. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) Required: 1. Determine the present value of the lease payments on June 30,2024 , that Blue uses to record the right-of-use asset and lease liability. 2. What would be the amounts related to the lease that Blue would report in its balance sheet at December 31 , 2024? (Ignore taxes.) 3. What would be the amounts related to the lease that Blue would report in its income statement for the year ended December 31, 2024? (Ignore taxes.) Note: For all requirements, round your intermediate and final answers to the nearest whole dollar amounts. TB Problem 15-182 (Algo) On June 30, 2024, Blue, Incorporated leased a machine from... On June 30, 2024, Blue, Incorporated leased a machine from Big Leasing Corporation. The lease agreement qualifies as a finance lease and calls for Blue to make semiannual lease payments of $209,243 over a four-year lease term, payable each June 30 and December 31 , with the first payment on June 30,2024 . Blue's incremental borrowing rate is 10%, the same rate Big uses to calculate lease payment amounts. The lease agreement qualifies as a finance lease. Amortization is recorded on a straight-line basis at the end of each year. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) Required: 1. Determine the present value of the lease payments on June 30,2024 , that Blue uses to record the right-of-use asset and lease liability. 2. What would be the amounts related to the lease that Blue would report in its balance sheet at December 31 , 2024? (Ignore taxes.) 3. What would be the amounts related to the lease that Blue would report in its income statement for the year ended December 31, 2024? (Ignore taxes.) Note: For all requirements, round your intermediate and final answers to the nearest whole dollar amounts