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The following facts pertain to a noncancelable lease agreement between Alschuler Leasing Company and McKee Electronics, a lessee, for a computer system. Inception date October

The following facts pertain to a noncancelable lease agreement between Alschuler Leasing Company and McKee Electronics, a lessee, for a computer system. Inception date October 1, 2012 Lease term 6 years Economic life of leased equipment 6 years Fair value of asset at October 1, 2012 $300,383 Residual value at end of lease term

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