the beginning of the year, HIJ Corp. began to lease
new equipment. This lease is being capitalized and
its term has been set for 8 years. The rate implicit
in the lease is 8.5% and thus, the original value
of the capitalized lease is determined to be $712,000.
If at the end of the year, the company is reporting
a lease obligation of $652,000, what must be the
annual total lease payments?