Pharoah, Inc. leased equipment from Tower Company under a 4-year lease requiring equal annual payments of $384152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4-year useful life and no salvage value. If Pharoah, Inc.’s incremental borrowing rate is 11% and the rate implicit in the lease (which is known by Pharoah, Inc.) is 9%, what is the amount recorded for the leased asset at the lease inception?

Southeastern oklahoma state university's business program has the facilities and faculty to handle an enrollment of 2,000 new students per semester. however, in an effort to limit class sizes to a "reasonable" level (under 200 generally), southeastern's dean, holly lutze, placed a ceiling on enrollment of 1,600 new students. although there was ample demand for business courses last semester, conflicting schedules allowed only 1,440 new students to take business courses.the utilization rate for southeastern=%the efficiency rate for southeastern=%