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You are given the following information for a 4-year lease, with $65,000 payments due at the beginning of each year. The fair value of the
You are given the following information for a 4-year lease, with $65,000 payments due at the beginning of each year. The fair value of the underlying asset is $250,000 and the deferred initial indirect costs of the lessor amounted to $15,592. The lessor's estimated residual value in the underlying asset is $50,000. The implicit rate in the lease is equal to:
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