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consider $150000 as lease payment Each of the four independent situations below describes a sales-type lease in which annual lease payments or are payable at
consider $150000 as lease payment
Each of the four independent situations below describes a sales-type lease in which annual lease payments or are payable at the beginning of each year. Each is a finance lease for the lessee. (FV of $1. PV of $1, FVA of $1. PVA of S1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Situation 17 8 7 98 8 128 115 105 Lease term (years) Lessor's and lessee's interest rate Residual values Estimated fair value Guaranteed by lessee 0 $50,000 0 $8,000 $8,000 $50,000 $60,000 Determine the following amounts at the beginning of the lease. (Round your intermediate and final answers to the nearest whole dollar amount.) Situation |A The lessor's 1. Loase payments 2. Gross investment in the lease 3. Net investment in the lease B The lessee's: 4. Lease payments 5. Right-of-use asset 6. Lease payableStep by Step Solution
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