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Please answer question below Falls Financial Corp. 2020 annual report discloses the following lease payments: Capital Operating Fiscal year leases leases 2021 $13,200 $2,328,000 2022
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Falls Financial Corp. 2020 annual report discloses the following lease payments: Capital Operating Fiscal year leases leases 2021 $13,200 $2,328,000 2022 10,800 667,200 2023 8,400 488,400 2024 0 94,800 2025 0 37,200 Net minimum lease payments $32,400 $3,615,600 Less amount representing interest 5,800 Present value of lease obligations $26,600 What is the approximate implicit rate of return on the capital leases? Select one: O a. 10.2% O b. 8.8% O c. 11.5% O d. 9.1% O e. 17.9%Step by Step Solution
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