ABC Company signed a lease with XYZ Leasing Company on December 31,2020 for equipment with a 7-year useful life. ABC makes the lease payments annually, beginning at signing date. There is no option for ABC to purchase the equipment, so the equipment will be returned to XYZ on December 31, 2026. ABC guarantees a residual value on termination of the lease. ABC's lease amortization schedule appears below. Under these circustances. ABC On December 31, 2023, Reagan Incorporated signed a lease with Silver Leasing Company for some equipment having a seven-year useful life. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2029. There is no purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease. Reagan's lease amortization schedule appears below: What is the effective annual interest rate charged to Reagan on this lease? Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable. What is the total effective interest paid over the term of the lease? ABC Company signed a lease with XYZ Leasing Company on December 31,2020 for equipment with a 7-year useful life. ABC makes the lease payments annually, beginning at signing date. There is no option for ABC to purchase the equipment, so the equipment will be returned to XYZ on December 31, 2026. ABC guarantees a residual value on termination of the lease. ABC's lease amortization schedule appears below. Under these circustances. ABC On December 31, 2023, Reagan Incorporated signed a lease with Silver Leasing Company for some equipment having a seven-year useful life. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2029. There is no purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease. Reagan's lease amortization schedule appears below: What is the effective annual interest rate charged to Reagan on this lease? Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable. What is the total effective interest paid over the term of the lease