Business, 30.11.2019 00:31 payshencec21
Sheridan company leases a machine from vollmer corp. under an agreement which meets the criteria to be a finance lease for sheridan. the 6-year lease requires payment of $175000 at the beginning of each year, including $25500 per year for maintenance, insurance, and taxes. the incremental borrowing rate for the lessee is 10%; the lessor’s implicit rate is 8% and is known by the lessee. the present value of an annuity due of 1 for six years at 10% is 4.79079. the present value of an annuity due of 1 for six years at 8% is 4.99271. sheridan should record the leased asset at:
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Sheridan company leases a machine from vollmer corp. under an agreement which meets the criteria to...
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