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The following facts pertain to a non - cancelable lease agreement between Ivanhoe Leasing and Metlock Group, a lessee ( amounts in Prepare a lease
The following facts pertain to a noncancelable lease agreement between Ivanhoe Leasing and Metlock Group, a lessee amounts in Prepare a lease amortization schedule for Metlock for the year lease term. Round answers to decimal places, eg
METLOCK GROUP Lessee
Lease Amortization Schedule
thousands
Commencement date
Annual lease payment due at the beginning of
each year, beginning with May
Bargain purchase option price at end of lease term
Lease term
Economic life of leased equipment
Lessor's cost
Fair value of asset at May
Lessor's implicit rate
Lessee's incremental borrowing rate
May
:
:
years
years
The collectibility of the lease payments by lvanhoe is probable.
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