Financial Statement Impact of a Lease Benjamin's Warehouse signed a six-year capital lease or finance lease on January 1, 2017, with payments due every December 31. Interest is calculated annually at 10%, and the present value of the minimum lease payments is $15,190. Use the appropriate present value table: TABLE 9-2 Present Value of $1 (N) Periods S 3% 4% 5% 6% 7% 8% 10% 12% 15% .98039 .96117 .94232 .92385 .90573 .88797 .87056 .85349 .83676 .82035 .80426 .78849 .77303 .75788 .74301 .72845 .71416 .70016 .68643 .67297 .64684 .62172 59758 .57437 .55207 97087 .94260 .91514 .88849 .86261 .83748 .81309 .78941 .76642 .74409 .72242 .70138 .68095 .66112 .64186 .62317 .60502 .58739 57029 .55368 .52189 49193 46369 43708 41199 .96154 .95238 .94340 .92456 -90703 .89000 .88900 .86384 .83962 .85480 .82270 .79209 .82193 .78353 .74726 .79031 .74622 .70496 .75992 .71068 .66506 .73069 .67684 .62741 .70259 .64461 .59190 .67556 .61391 .55839 .64958 .58468 .52679 .62480 .55684 49697 .60057 .53032 46884 .57748 .50507 44230 .55526 48102 41727 .53391 45811 39365 .51337 .43630 37136 49363 41552 35034 47464 39573 33051 45639 37689 31180 42196 34185 27751 39012 31007 24698 .36069 28124 21981 33348 25509 .19583 308322313817411 .93458 .87344 .81630 .76290 .71299 .66634 .62275 58201 .54393 .50835 47509 44401 .41496 38782 .36245 .33873 31657 29586 27651 25842 .22571 .19715 .17220 .15040 .13137 .92593 .85734 .79383 .73503 .68058 .63017 .58349 54027 .50025 46319 42888 39711 36770 34046 .31524 29189 27027 25025 23171 21455 .18394 .15770 .13520 .11591 .09938 .90909 .82645 .75131 .68301 .62092 .56447 .51316 46651 .42410 .38554 .35049 .31863 28966 .26333 .23939 .21763 .19784 .17986 .16351 .14864 .12285 .10153 .08391 .06934 .05731 .89286 .79719 .71178 .63552 .56743 .50663 .45235 .40388 .36061 .32197 28748 .25668 22917 .20462 .18270 .16312 .14564 .13004 .11611 .86957 .75614 .65752 .57175 .49718 43233 37594 32690 28426 24718 21494 .18691 .16253 .14133 12289 .10686 09293 .08081 .07027 .06110 .04620 03493 .02642 .01997 .01510 .10367 .08264 .06588 .05252 .04187 .03338 TABLE 9-4 Present Value of Annuity of $1 (N) Periods 2% 3% 4% 5% 6% 7% 8% 10% 12% 15% 98039 1.94156 2.88388 3.80773 4.71346 5.60143 6.47199 7.32548 8.16224 8.98259 9.78685 10.57534 11.34837 12.10625 12.84926 13.57771 14.29187 14.99203 15.67846 16.35143 17.65805 18.91393 20.12104 21.28127 22.39646 97087 96154 95238 9 4340 93458 92593 90909 .89286 1.91347 1.88609 1.85941 1.83339 1.80802 1.78326 1.73554 1.69005 2.82861 2.77509 2 .72325 2.67301 2.62432 2.57710 2.486852.40183 3.71710 3.62990 3.545953.46511 3.38721 3.31213 3.169873.03735 4.57971 4.45182 4.32948 4.21236 4.10020 3.99271 3.79076 3.60478 5.41719 5.24214 5.07569 4.91732 4.76654 4.62288 4.35526 4.11141 6.23028 6.00205 5.78637 5.58238 5.38929 5.20637 4.86842 4.56376 7.01969 6.73274 6.46321 6.20979 5.97130 5.74664 5.33493 4.96764 7.78611 7.435337.10782 6.80169 6.51523 6.24689 5.75902 5.32825 8.53020 8.11090 7.72173 7.36009 7.02358 6.71008 6.14457 5.65022 9.25262 8.76048 8.306417.88687 7.49867 7.13896 6.49506 5.93770 9.95400 9.38507 8.86325 8.38384 7.94269 7.53608 6.81369 6.19437 10.63496 9.98565 9.39357 8.85268 8.35765 7.90378 7.10336 6.42355 11.29607 10.56312 9.89864 9.29498 8.74547 8.24424 7.36669 6.62817 11.93794 11.11839 10.37966 9.71225 9.10791 8.55948 7.60608 6.81086 12.56110 11.65230 10.83777 10.105909.446658.851377.82371 6.97399 13.1661212.16567 11.27407 10.47726 9.76322 9.12164 8.02155 7.11963 13.75351 12.65930 11.68959 10.82760 10.05909 9.371898.20141 7.24967 14.32380 13.13394 12.08532 11.15812 10.33560 9.60360 8.36492 7.36578 14.87747 13.59033 12.46221 11.46992 10.59401 9.818158.51356 7.46944 15.93692 14.45112 13.16300 12.04158 11.06124 10.20074 8.77154 7.64465 16.93554 15.24696 13.79864 12.55036 11.46933 10.52876 8.98474 7.78432 17.87684 15.98277 14.37519 13.00317 11.82578 10.80998 9.16095 7.89566 18.76411 16.66306 14.89813 13.40616 12.13711 11.05108 9.30657 7.98442 19.60044 17.29203 15.37245 13.76483 12.40904 11.25778 9.42691 8.05518 .86957 1.62571 2.28323 285498 3.35216 3.78448 4.16042 4.48732 4.77158 5.01877 5.23371 5.42062 5.58315 5.72448 5.84737 5.95423 6.04716 6.12797 6.19823 6.25933 6.35866 6.43377 6.49056 6.53351 6.56598 30 2. Calculate the amount of the lease obligation that would be presented on the December 31, 2018, balance sheet (after two lease payments have been made). Round your calculations and answer to the nearest cent. Lease obligation, December 31, 2018: 1. Calculate the amount of the annual payment that Benjamin's must make every December 31. Round your answer to the nearest whole dollar. Lease payment, December 31: 3,488 per year + 9+ 9+ !19 von ! 4P OFU EC997 P 9 ) + 4 Lt 99
