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King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at a 4% annual rate. The lease term is five-months

image text in transcribed King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at a 4% annual rate. The lease term is five-months with monthly payments of $13,500 due at the end of each month. King Cones elected the short-term lease option. What is the effect of the lease on King Cones' earnings during the five-month term (ignore taxes)? (Enter your answer as a positive value.)

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