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Bird Wing Bedding can lease an asset for 4 years with payments of $20,000 due at the beginning of the year. The firm can borrow
Bird Wing Bedding can lease an asset for 4 years with payments of $20,000 due at the beginning of the year. The firm can borrow at a 6% rate and pays a 25% federal-plus-state tax rate. The lease qualifies as a tax-oriented lease. What is the cost of leasing? Do not round intermediate calculations. Round your answer to the nearest dollar.
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