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Fanny leased equipment that had a retail cash selling price of $ 1 , 2 5 0 , 0 0 0 and a useful life
Fanny leased equipment that had a retail cash selling price of $ and a useful life of five years with no residual value. The lessor paid $ to acquire the equipment and used an implicit rate of when calculating annual lease payments of $ beginning January at the beginning of the lease. What is the increase in the lessor's earnings during the first year as a result of the lease ignore taxes
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