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The first payment is due at the inception of the lease the

Question - A firm leases equipment under a capital lease (analogous to an installment purchase) that calls for 12 semiannual payments of $39,014.40. The first payment is due at the inception of the lease. The annual rate on the lease is 6%. What is the value of the leased asset at inception of the lease?

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Accounting Basics: The first payment is due at the inception of the lease the

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