Testbank Problem 150 Pine Leasing Company purchased specialized equipment from Wayne Company on December 31, 2019 for $780,000. On the same date, it leased this equipment to Sears Company for 5 years, the useful life of the equipment. The lease payments begin January 1, 2020 and are made every 6 months until July 1, 2024. Pine Leasing wants to earn 10% annually on its investment. Various Factors at 10% Periods Future Value of an Present Value of an Future Present or Rents Value of $1 Value of $1 Ordinary Annuity 0.42410 0.38554 Ordinary Annuity 9 2.35795 13.57948 5.75902 10 2.59374 15.93742 6.14457 6.49506 11 2.85312 0.35049 18.53117 Various Factors at 5% Periods or Rents Value of $1 Value of $1 Future Value of an Present Value of an Future Present Ordinary Annuity Ordinary Annuity 9 1.01725 0.64461 11.02656 7.10782 1.62889 0.61391 10 12.57789 7.72173 1.71034 11 0.58468 14.20679 8.30641 Calculate the amount of each rent. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Amount of rent LINK TO TEXT How much interest revenue will Pine earn in 2020? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Interest revenue Open Show Work Click if you would like to Show Work for this