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Blossom Corporation purchased a piece of equipment for $99,000. Blossom wanted to lease out the equipment to a customer for Unresolved years, at the end
Blossom Corporation purchased a piece of equipment for $99,000. Blossom wanted to lease out the equipment to a customer for Unresolved years, at the end of which time the customer could purchase the equipment for $5,000 (at a time when its fair value would be $10,000). Annual payments on the lease would be due at the beginning of each year. Click here to view the factor table In order to earn a 10% return, what minimum lease payments should Blossom charge its customer for this equipment lease? (Round factor values to 5 decimal places, e.g. 1.25124. Round answer to 0 decimal places, e.g. 5,275.) Minimum lease payments
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