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Titaric Corporation leased executive limos under terms of a $13.500 first payment upon signing the lease and four equal annual payments of $21,000 on the

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Titaric Corporation leased executive limos under terms of a $13.500 first payment upon signing the lease and four equal annual payments of $21,000 on the anniversafy date of the lease. The interest rate implicit in the lease is 12%. The first year's interest experise would be: (FV of 51. PV of S1. FVA of \$1. PVA of 51. EVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Mutiple Choice: 59.000. $7,654 $6,480 52,551

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