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Excel Assignment On January 1, 2021, Majestic Mantles leased a lathe from Equipment Leasing under a 20-year financing lease. Lease payments of $20,000 are made

Excel Assignment

On January 1, 2021, Majestic Mantles leased a lathe from Equipment Leasing under a 20-year financing lease. Lease payments of $20,000 are made annually with the first payment due at the signing of the lease. The interest rate on the lease is 10%.

Assignment:

What is the present value of the lease payments? Show your computations in an excel spreadsheet.

Excel Template Present Value Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 187,298

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