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On June 30, 2011, Georgia-Atlantic, Inc., leased a warehouse facility from Builders, Inc. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $564,907 over a four-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2011. Georgia-Atlantic’s incremental borrowing rate is 6%, the same rate Builders used to calculate lease payment amounts. Builders constructed the warehouse at a cost of $3.0 million. (Use Table 6)What pretax amounts related to the lease would Builders report in its income statement for the year ended December 31, 2011? Please show your work. Thanks

AnswerInterest on Loan YearAmount $June30th 564097Dec. 31st 564097 =$3,000,000*6%*6/12=$90,000P.V @ 3%.971.943 Total P.V547738.18531943.471079681.65 Total Present Value of Lease payment…

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