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At the beginning of its fiscal year Lakeside incorporated leased office space to UII Corporation under a Nelve year operating lease agreement The contract calls
At the beginning of its fiscal year Lakeside incorporated leased office space to UII Corporation under a Nelve year operating lease agreement The contract calls for quatterly rent payments of $35,000 each. The office bullding was acquired by Lareside is a cost of $3.0 million and was expected to have a useful life of 30 years with no residual value. What will be the effect of the lease on Lakeside's earnings for the first year (ignore taxes)? Note: Enter your answer rounded to the nearest whole dollar
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