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Floyd Company has a machine with a cost of $500,000 which also is its fair value on the date the machine is leased to Barone

Floyd Company has a machine with a cost of $500,000 which also is its fair value on the date the machine is leased to Barone Company. The lease is for 6 years and the machine is estimated to have an unguaranteed residual value of $50,000. The lessor

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