Wildhorse Company manufactures a check-in kiosk with an estimated economic life of 12 years and leases it to National Airlines for a period of 10 years. The normal selling price of the equipment is $287,996, and its unguaranteed residual value at the end of the lease term is estimated to be $21,200. National will pay annual payments of $41,400 at the beginning of each year. Wildhorse incurred costs of $163,500 in manufacturing the equipment and $3,800 in sales commissions in closing the lease. Wildhorse has determined that the collectibility of the lease payments is probable and that the implicit interest rate is 10%. Click here to view factor tables. (a) Discuss the nature of this lease in relation to the lessor. This is a Compute the amount of each of the following items. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answers to 0 decimal places, e.g. 5,275.) (1) Lease receivable $ (2) Sales price (3) Cost of sales eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit