Business, 05.05.2020 07:16 froyg1234

Ivanhoe Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $65,000 and fair value of $86,500. Under the 3-year, non-cancelable contract, Sharrer will receive title to the machine at the end of the lease. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2017. Ivanhoe expects to earn an 8% return on its investment, and this implicit rate is known by Sharrer. The annual rentals are payable on each December 31, beginning December 31, 2017.

*Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places e. g. 5,275.)

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Ivanhoe Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $65,0...

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