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lease and four equal annual payments of $40,000 on the anniversary date of the leave. The inerex. rate implicit in the lease is 12%. The

lease and four equal annual payments of $40,000 on the anniversary date of the leave. The inerex. rate implicit in the lease is 12%. The first year's interest expense would be: a. $11,280. b. $14,579. c. $4,860. d. $6,480

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