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Ivanhoe, Inc. manufactures machinery used in the mining industry. On January 2, 2025, it leased equipment with a cost of $380000 to Flint Co. The
Ivanhoe, Inc. manufactures machinery used in the mining industry. On January 2, 2025, it leased equipment with a cost of $380000 to Flint Co. The 5-year lease calls for a 10% down payment and equal annual payments at the end of each year. The equipment has an expected useful life of 5 years. If the selling price of the equipment is $680000, and the rate implicit in the lease is 7%, what are the equal annual payments? $139496$149261$157341$165846
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