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Benji's is considering leasing a machine for 4 years with monthly payments of $680. The firm can borrow at a rate of 9 percent and
Benji's is considering leasing a machine for 4 years with monthly payments of $680. The firm can borrow at a rate of 9 percent and has a tax rate of 40 percent. If the lease is classified as an operating lease, what amount, if any, should appear in the asset section of the balance sheet on the effective date of the lease?
a) )$29,296.54
b) )$2,720.00
c) $27,325.65
d) )$32,640.00
e) $0
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