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The following facts pertain to a non - cancelable lease agreement between Crane Lasing Company and Blossom Company, a lessee. Commencement date January 1 ,
The following facts pertain to a noncancelable lease agreement between Crane Lasing Company and Blossom Company, a lessee.
Commencement date
January
Annual lease payment due at the beginning of each year, beginning with January
$
Residual value of equipment at end of leses term,
guaranteed by the lessee
$
Expected residual value of equipment at end of lease term $
Lease term
years
Economic life of leased equipment
years
Fair value of asset at January
$
Lessor's implicit rate
Lessee's incremental borrowing rate
The asest will revert to the lessor at the end of the lease term. The lesse uses the strichtline amortization for all leased equipmant:
Click here to view factor tables.
a
Prepare an amortization schedule that would be suitable for the lessee for the lease tarm, Round present wolue factor calaloticrs: to decimal places, es and the final anwers to decimal places
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