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  3. a company rents (lease) a machine for 5 years. the

A company rents (lease) a machine for 5 years. The fee is $70,000, excluding 5%...

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Accounting

A company rents (lease) a machine for 5 years. The fee is $70,000, excluding 5% VAT. A down payment of $5,000 is made and a registration fee of $300 has to be made. The rent lasts 5 years, beginning on the first day of a calendar year (01/01). Calculate annual payments for the rent and any extra charges that have to be paid.

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