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Giselle Ltd enters into a finance lease agreement on the following terms. What is the fair value of the equipment at the inception of the

Giselle Ltd enters into a finance lease agreement on the following terms. What is the fair value of the equipment at the inception of the lease (rounded to the nearest dollar)? [3.3121.0.7350] Duration of lease 4 years Life of leased asset 6 years Guaranteed residual $0 Unguaranteed residual $0 Bargain Purchase Option $4,000 Lease payment at inception $0 Annual lease payments (paid at year ends) $10,000 Interest rate implicit in lease 8% $34 518 $39 736 $36 061 $33 121

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