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Question 21 Not yet answered Marked out of 10.00 Flag question Falls Financial Corp. 2020 annual report discloses the following lease payments: 2023 Capital Operating

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Question 21 Not yet answered Marked out of 10.00 Flag question Falls Financial Corp. 2020 annual report discloses the following lease payments: 2023 Capital Operating Fiscal year leases leases 2021 $12.936 $2,281,440 2022 10,584 653,856 8.232 478,632 2024 0 92.904 2025 0 36,456 Net minimum lease payments $31,752 $3,543,288 Less amount representing interest 5,800 Present value of lease obligations $25,952 What is the approximate implicit rate of return on the capital leases? Select one: a. 18.3% b. 10.2% C. 8.8% d. 9.1% e. 11.7%

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