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Posted on Mar 18, 2024

Medical Lessors, Inc (MLI) buys an x-ray machine for $200K. On the same day (EOY 0), the firm leases the machine to Radiology, Inc.

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Medical Lessors, Inc (MLI) buys an x-ray machine for $200K. On the same day (EOY 0), the firm leases the machine to Radiology, Inc. (RI) for six years, via a six-year, uniform-payment, annuity-due contract with 10% interest. Payments are made annually. What is the amount of the uniform payment?

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