Testbank Problem 149 Pronghorn Company has entered into two lease agreements. In each case the cash equivalent purchase price of the asset acquired is known and you wish to find the interest rate which is applicable to the lease payments. Click here to view factor tables Lease A - Lease A covers office equipment which could be purchased for $213,757. Pronghorn Company has, however, chosen to lease the equipment for $36,000 per year, payable at the end of each of the next 11 years. Calculate the implied interest rate for the lease payments. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5%.) Interest rate LINK TO TEXT Lease B - Lease B applies to a machine which can be purchased for $142,805. Pronghorn Company has chosen to lease the machine for $25,000 per year on a 8-year lease. Payments are due at the start of each year. Calculate the implied interest rate for the lease payments. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5%.) Interest rate Click if you would like to Show Work for this question: Open Show Work