Question
Bramble Co. has a machine that cost $790000. It is to be leased for 20 years with rent received at the beginning of each year.
Bramble Co. has a machine that cost $790000. It is to be leased for 20 years with rent received at the beginning of each year. Bramble wants a return of 12%. Calculate the amount of the annual rent.
| Periods | Present Value of Ordinary Annuity | |
| 19 | 7.36578 | |
| 20 | 7.46944 | |
| 21 | 7.56200 |
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
