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Auto Leasing Inc. leases an automobile with a fair value of $40,000 to a customer over a four year period with payments due annually.
Auto Leasing Inc. leases an automobile with a fair value of $40,000 to a customer over a four year period with payments due annually. The first payment is due on the first day of the lease. What is the annual lease payment if Auto Leasing Inc. desires a rate of return of 10% ? Note: Do not use a negative sign with your answer. $ 0
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
