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Samuel Courier Inc entered into a non-cancellable lease agreement with Specialty Auto Company for the lease of a delivery van on July 1, 2022. The
Samuel Courier Inc entered into a non-cancellable lease agreement with Specialty Auto Company for the lease of a delivery van on July 1, 2022. The agreement indicates that Samuel Counier will purchase the van at the end of the lease term for a specified price. Other details pertaining to the lease follow: Estimated fair value of leased asset at the end of the lease term 515972 Interest rate used in the lease 5% Annual lease payment, due on July 1 of each year $10.218 Lease Term 6 years he first lease payment is scheduled to be made on luiy 1,2022 hat is the value of the van at the inception of the lase?" (Do not use nmas or dollar signs 512,345.67 is entered 12345677
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