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2.AUS firm leases equipment under a capital lease (analogous to an installment purchase) that calls for 12 semiannual payments of $78,028.80. The first payment is

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2.AUS firm leases equipment under a capital lease (analogous to an installment purchase) that calls for 12 semiannual payments of $78,028.80. The first payment is due at the inception (start) of the lease. The annual rate on the lease is 7%. What is the value of the leased asset at inception of the lease

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