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Teal Mountain Company leases equipment for 8 years with an annual rental of $1,600 per year or $12,800 in total. General Leasing (the lessor) agrees

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Teal Mountain Company leases equipment for 8 years with an annual rental of $1,600 per year or $12,800 in total. General Leasing (the lessor) agrees to provide Teal Mountain with $400 for the firs 2 years of the lease to defray needed repairs to the equipment. Determine the lease payments that Teal Mountain will pay for the first 3 years of the lease agreement. Lease payments 4400

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