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Calculate minimum lease payments for A Ltd. who took an asset on a 5 years...

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Accounting

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Calculate minimum lease payments for A Ltd. who took an asset on a 5 years lease from B Ltd. using the following information: Payments over the lease term 1,000 per month Contingent rent 20,000 Cost for services given by B Ltd. 40,000 Taxes to be reimbursed to B Ltd. 15,000 Residual value guaranteed by A Ltd. 35,000 Fair value of asset after 5 years 36,000 Also, A Ltd. has an option to purchase the asset after a period of 5 years at 32,000. It is reasonably certain that A Ltd. will exercise the option. Required Calculation Minimum Lease Payments

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