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2. Metlock Company leases an automobile with a fair value of $11,845 from John Simon Motors, Inc., on the following terms: 1. Non-cancelable term of

2. Metlock Company leases an automobile with a fair value of $11,845 from John Simon Motors, Inc., on the following terms: 1. Non-cancelable term of 50 months. 2. Rental of $240 per month (at...

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