Business, 02.12.2020 16:40 morgans53005

Smart Industries leases equipment on January 1, 2016. The finance lease has an 11-year term, and an implicit rate of 5%. The equipment has a list price of $300,000 and the lease agreement requires a $20,000 down payment when the lease is signed plus 10 annual payments of $36,261.28 on December 31 of each year of the lease. After Smart Industries makes its payment on December 31, 2018, what is its remaining lease obligation (carrying value) for the equipment

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Smart Industries leases equipment on January 1, 2016. The finance lease has an 11-year term, and an...

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