Gamison leased a fleet of trucks. The lease is for 5 years and commenced on 1st July 2013. The annual rentals are $62,000 and are made on 1st July each year with the first rental being paid on 1st July 2013. The lessor is responsible for all maintenance, insurance, and registration for the trucks and Williams estimates that the value of those services is $16,000 per year The trucks would have cost $279,000 if Gamison had purchased the them. Gamison estimates that the fair value of the trucks at the end of the lease term will be $160,000. Trucks similar to the ones that Gamison has leased have a useful of 20 years. Gamison incurred direct initial costs of $1,000 in arranging the lease contract which it paid on 1st July 2013. Assuming that as a finance lease calculate the PV of the MLP (incremental bprroung rate 10%)