Titanic Corporation leased executive limos under terms of a $13,000 first payment upon signing the lease and four equal annual payments of $25,500 on the anniversary date of the lease. The interest rate implicit in the lease is 10%. The first year's interest expense would be. (FV of $1. PV of $1 PVA of $1. PVA of $1. EVAD of $1 and PVAD of $1 (Use appropriate foctor(s) from the tables provided.) Multiple Choice $7750 $8,083 $5,200 $3,233