Governor Corporation entered into a direct financing lease (interest rate 1 . percent) to lease Pleasant an asset that cost Governor $90,000 . The lease specified annual year-end payments for seven years. The lease also specified that, along with the last payment, Pleasant could purchase the asset for $8,000 cash. Under this lease agreement, Pleasant will be required to pay annual payments of
a. $11,714.
b. $12,858.
c. $17,966.
d. $18,928.
D
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Anton Co. uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 480 units of inventory that cost $5 each and then purchased an additional 660 units of inventory that cost $10 each. If Anton sells 800 units of inventory, what is the amount of cost of goods sold?
A. $8000 B. $4000 C. $7400 D. $5600
If you put $2,000 in a savings account that yields 8% compounded semiannually, how much money
will you have in the account in 20 years (rounded to nearest $10)? A) $9,602 B) $9,972 C) $6,789 D) $8,342
A ratio expresses a mathematical relation between two quantities and can be expressed as a percent, rate, or proportion.
Answer the following statement true (T) or false (F)
The Restatement (Third) of Torts on product defect recommends that the distinction between strict liability and negligence be given less attention
a. True b. False Indicate whether the statement is true or false