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Cullumber Corporation, which uses ASPE, leased equipment it had manufactured at a cost of $127,300 for Waterway, the lessee. The equipment's regular selling price is

Cullumber Corporation, which uses ASPE, leased equipment it had manufactured at a cost of $127,300 for Waterway, the lessee. The equipment's regular selling price is $162,000. The term of the lease is...

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