The X-AG is the lessee in the following contracts:

• 4-year contracts for photocopiers - the value of each machine is approximately 800 €.

• 1-year contract (without renewal option) for office containers used by the X-AG during the conversion of its administration building.

• 3-year contract for a passenger car with an annual payment in arrears of € 26.620.

All leasing contracts start on 01.01.15.

Task: As far as options exist, the X-AG would like to present the contracts off balance sheet.

How does the X-AG have to balance the leasing relationships with an assumed interest rate of 10%? Justify your answers! Make all bookings and calculations required for the years 15 and 16 with regard to car leasing!