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Please explain how you got the answer. Thank you 27. On January 1, 2021, Wise Corporation leased equipment to Slim Company. The lease term is
Please explain how you got the answer. Thank you
27. On January 1, 2021, Wise Corporation leased equipment to Slim Company. The lease term is eight years. The first payment of $675,000 was made on January 1,2021 . The equipment cost Wise Corporation $3,600,000. The present value of the lease payments is $3,961,183. The lease is appropriately classified as a sales-type lease. suming the interest rate for this lease is 10%, how much interest revenue will Wise record in 2022 on this lease? A. $261,000. B. $293,980. C. $325,350Step by Step Solution
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