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Bramble Equipment Leasing Company leased equipment to Crane Healthcare System on January 1 , 2 0 2 5 , for a four - year period.
Bramble Equipment Leasing Company leased equipment to Crane Healthcare System on January for a fouryear period. Equal annual payments under the lease are $ and are due on January of each year. The first payment was made on January The implicit rate of interest contemplated by Bramble Equipment Leasing and known to Crane Healthcare is Crane's incremental borrowing rate is The cost of the equipment on Bramble Equipment Leasing accounting records was $ Assuming that the lease is appropriately recorded as an operating lease, what is the amount of profit on the sale that Bramble Equipment Leasing would record for the year ended December
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