Nutri Labs, Inc. leased a protein analyzer to Werner Chemical, Inc., on September 30, 2009. NutraLabs manufactured the machine at a cost of $5 million. The five-year lease agreement calls for Werner to make quarterly lease payments of $391, 548, payable each September 30, December 31, March 31, June 30, with the first payment at September 30, 2009. NutraLabs' implicit interest rate is 12%.Determine the price at which NutraLabs is "selling" the equipment (present value of the lease payments) at Septebmer30, 2009 (to the nearest $000).
- What pretax amounts related to the leawe would NutraLabs report in its balance sheet at December 31, 2009
- What pretax amoumts related to the lease would NutraLabs report in its income statement for the year ended December 31, 2009
- What pretas amounts related to the lease would NutraLabs report in its statement of cash flows for the year ended December 31, 2009