King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at a 7% annual rate. The lease term is eight-months with monthly payments of $14,500 due at the end of each month. King Cones elected the short-term lease option. 0.62 points What is the effect of the lease on King Cones' earnings during the eight-month term (ignore taxes)? 02:51:55 ecrease in earnings eBook Print References