may not look like but all realecabt information is there.

19. Titanic Corporation leased executive limos under terms of a 513,500 first payment lease and four equal annual payments of $40,000 on the anniversary date of the 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