-1 Body bu... BODY IT... 1 Body tex... body text... Paragraph Z Styles James Ltd decides to lease some machinery from Moon Ltd on the following terms: Date of entering lease: 1 July 2020. Duration of lease: 10 years. Life of leased asset: 10 years. Unguaranteed residual value: $15 000. Lease payments: $10 000 at lease inception, $12 000 on 30 June each year for the next 10 years. Fair value of leased asset at date of lease inception: $97 469. . REQUIRED A. Using an interest rate of 7%, calculate the discounted value of the leased asset. (Show your calculation) 1 B. Is the 7% rate the implicit rate? Why? in D) Focus