the information below relates to a sales type lease in which lease payments are made semiannually at the beginning of each period

$\backslash$table$[[$Lease term,$5$ years$],[$Lessor$\text{'}$s desired rate of return,$12\%$ per year$],[$Lesse$\text{'}$s incremental borrowing rate,$10\%$ per year$],[$Current fair market value of leased asset,$$600,000$