Your client, KeithMarigoldLeasing Company, is preparing a contract to lease a machine to Souvenirs Corporation for a period of27years.Marigoldhas an investment cost of $430,300in the machine, which has a useful life of27years and no salvage value at the end of that time. Your client is interested in earning an11% return on its investment and has agreed to accept27equal rental payments at the end of each of the next27years.

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You are requested to provideMarigoldwith the amount of each of the27rental payments that will yield an11% return on investment.(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

1) Amount of each rental payments: $