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Manning Imports is contemplating an agreement to lease equipment to a customer for five years. Manning normally sells the asset for a cash price of

Manning Imports is contemplating an agreement to lease equipment to a customer for five years. Manning normally sells the asset for a cash price of $100,000.

Assuming that 8% is a reasonable rate of interest, what must the quarterly lease payments (beginning at the inception of the lease) be in order for Manning to recover its normal selling price, as well as be compensated for financing the asset over the lease term?

Thaks a lot!

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