Perry Freight Co. leased a trailer to Harper Inc. for use in delivering inventory. The finance lease has a 3-year term, 5% implicit rate, and begins on January 1, 2018. The lease requires a down payment of $10,000 and two equal annual lease payments on December 31 of 2018 and 2019. The list price of the trailer on the inception date is $50,000. What is the dollar amount of each annual payment that Perry Freight Co. will receive a. 26,890 b. 18,360 c. 21,512 d. 14,688 On January 1, 2016, Westeros Corporation issued 2,400,000 of twelve-year, 8% bonds at an effective (market) interest rate of 10%. The bonds make a cash interest payment each year on December 31. What are the cash proceeds that Westeros received on January 1, 2016? a. 2,762,732 b. 2,105,061 c. 2,400,000 d. 2,072,943