Your firm has leased equipment at a cost of $15,000 per year for the next five years. Your firms cost of borrowing is 6.5%. This is a capital (or finance) lease, so your balance sheet will be affected. What amount will be added to your assets as a result of the lease? For each of the first two lease payments, show the amount that will be considered interest, and the amount of the payment that will go toward reducing the lease liability. Can you depreciate the asset? How much per year (using straight-line)?

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