Annual Lease Payments. Fairchild Leasing Company is setting up a capital lease with Gemi Trucking, Inc. The lease will cover a $36,000 delivery truck. The terms of the lease call for a 12 percent...

Annual Lease Payments. Fairchild Leasing Company is setting up a capital lease with Gemi Trucking, Inc. The lease will cover a $36,000 delivery truck. The terms of the lease call for a 12 percent return to the truck lessor. The lease is to run for 5 years.

                Based on these data, determine (a) the annual lease payment and (b) the annual lease payment if the lessor desires 10 percent on its lease