Question
Lane Co. has a machine that cost $800,000. It is to be leased for 20 years with rent received at the beginning of each year.
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"Lane Co. has a machine that cost $800,000. It is to be leased for 20 years with rent received at the beginning of each year. Lane wants a return of 10%. Calculate the amount of the annual rent. Present Value of an Ordinary Annuity for 19 periods = 8.36492, for 20 periods = 8.51356 and for 21 periods = 8.64869. "
"a. $85,425"
"b. $95,636"
"c. $118,912"
"d. $93,968"
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Using Financial Accounting Information The Alternative To Debits And Credits
Authors: Porter And Norton
1st Edition
1285128257, 978-1285128252
