A Machinery was given on 3 years lease by a dealer of the machinery for equal annual lease rentals to yield 20% profit margin on cost of the…

A Machinery was given on 3 years lease by a dealer of the machinery for equal annual lease rentals to yield 20% profit margin on cost of the machinery, which is 3,00,000. Economic life of the machinery is 5 years, and estimated output from the machinery in 5 years is as follows: Year Output Year I 50,000 units Year II 60,000 units Year III 40,000 units Year IV 65,000 units Year V 85,000 units. Compute Annual Lease Rent.