Chapter 15 Exercises A Submitted 0.87/1 Total points awarded Help Exit You received partial credit in the previous attempt. At January 1, 2021, Caf Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $32,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $243,000 (its fair value) and was expected to have a useful life of 12 years with no salvage value at the end of its life. (Because the lease term is only 9 years, the asset does have an expected residual value at the end of the lease term of $73,596.) Crescent seeks a 9% return on its lease investments. By this arrangement, the lease is deemed to be a finance lease. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your intermediate calculations to the nearest whole dollar amount.) 0.07/0.2 points awarded Scored eBook Required: 1. What will be the effect of the lease on Caf Med's earnings for the first year (ignore taxes)? (Enter decreases with negative sign.) 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Caf Med (ignore taxes)? (For all requirements, round your intermediate calculations and final answers to the nearest whole dollar.) References 1. 2. Effect on earnings Lease payable balance (end of year) Right-of-use asset balance (end of year) $ (32,000) $ 161,054 $ 193,054 X TABLE 1 Future Value of $1 FV = $1(1 + i)" 11.0% 1.11000 12.0% 1.12000 20.0% 1.20000 ni 1.0% 1.5% 1 1.01000 1.01500 2 1.02010 1.03022 3 1.03030 1.04568 4 1.04060 1.06136 5 1.05101 1.07728 2.0% 1.02000 1.04040 1.06121 1.08243 1.10408 2.5% 3.0% 1.02500 1.03000 1.05063 1.06090 1.07689 1.09273 1.10381 1.12551 1.13141 1.15927 3.5% 1.03500 1.07123 1.10872 1.14752 1.18769 4.0% 1.04000 1.08160 1.12486 1.16986 1.21665 4.5% 5.0% 5.5% 1.04500 1.05000 1.05500 1.09203 1.10250 1.11303 1.14117 1.15763 1.17424 1.19252 1.21551 1.23882 1.24618 1.27628 1.30696 6.0% 7.0% 8.0% 1.06000 1.07000 1.08000 1.12360 1.14490 1.16640 1.191021.22504 1.25971 1.26248 131080 1.36049 1.33823 1.402551.46933 0.0% 1.09000 1.18810 1.29503 1.41158 1.53862 10.0% 1.10000 1.210 1.33100 1.46410 1.61051 1.36763 1.51807 1.68506 1.40493 1.57352 1.76234 1.72800 2.07360 2.48832 6 1.06152 1.09344 1.12616 1.15969 1.19405 1.22926 1.26532 1.30226 1.34010 1.37884 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 2.98598 7 8 9 10 1.07214 1.10984 1.14869 1.08286 1.12649 1.17166 1.09369 1.14339 1.19509 1.10462 1.16054 1.21899 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 1.50363 1.60578 1.21840 1.26677 131681 1.36857 1.42210 1.47746 1.53469 1.59385171819 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.619091.68948 1.83846 1.28008 1.34392 1.41060 1.48024 1.55297 1.62889 1.70814 1.79085 1.96715 1.71382 1.85093 1.99900 2.15892 1.82804 199256 2.17189 2.36736 1.948722.07616 2.14359230454 2.35795 2.55804 2.59374 2.83942 2.21068 2.47596 2.77308 3.10585 3.58318 4.29982 5.15978 6.19174 11 1.11567 1.17795 1.24337 1.31209 1.38423 1.45997 1.53945 1.62285 1.71034 1.802091.89830 2.104852.33164 2.58043 2.85312 3.15176 3.47855 12 13 14 1.12683 1.13809 1.14947 1.19562 1.21355 1.23176 1.26824 1.34489 1.29361 1.37851 1.31948 1.41297 1.42576 1.46853 1.51259 1.51107 1.56396 1.61869 1.60103 1.69588 1.66507 1.77220 1.73168 1.85194 1.79586 1.901212.01220 1.88565 2.00577 2.13293 1.97993 2.11609 2.26090 2.25219 2.51817 2.409852.71962 2.578532.93719 2.81266 3.06580 3.34173 3.13843 3.45227 3.79750 3.49845 3.88328 4.31044 3.89598 4.36349 4.88711 7.43008 8.91610 10.69932 12.83918 15.40702 15 1.16097 125023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 2.23248 2.39656 2.75903 3.17217 3.64248 4.17725 4.784595.47357 16 1.17258 1.26899 1.37279 1.48451 1.60471 1.73399 1.87298 2.02237 2.18287 8287 2.35526 2.35526 2.54035 2.95216 3.42594 3.97031 4.59497 5.310896.13039 18.48843 2.69277 3.15882 3.70002 4.32763 5.05447 5.895096.86604 17 18 19 20 1.18430 1.19615 1.20811 1.22019 1.28802 1.40024 1.52162 1.30734 1.42825 1.55966 1.32695 1.45681 1.59865 1.34686 1.485951.63862 1.65285 1.79468 1.94790 2.11338 2.29202 2.48480 1.70243 1.85749 2.02582 2.20848 2.40662 2.62147 1.75351 1.92250 2.10685 2.30786 2.52695 2.76565 1.80611 1.98979 2.19112 2.41171 2.65330 2.91776 2.85434 3.02560 3.20714 3.379933.99602 3.61653 4.31570 3.86968 4.66096 4.71712 5.14166 5.60441 5.55992 6.11591 6.72750 6.543557.68997 7.26334 8.61276 8.06231 9.64629 22.18611 26.62333 31.94800 38.33760 21 1.23239 1.36706 25 1.28243 1.45095 30 1.34785 1.56308 40 1.48886 1.81402 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.078233.39956 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.386353.813394.29187 1.81136 2.09757 2.42726 2.806793.24340 3.74532 4.32194 4.98395 5.74349 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 10.28572 4.14056 5.03383 6.10881 7.40025 8.94917 10.80385 46.00512 5.427436.84848 8.62308 10.83471 13.58546 17.00006 95.39622 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 237.37631 14.97446 21.72452 31.40942 45.25926 65.00087 93.05097 1469.77160 TABLE 2 Present Value of $1 $1 PV = (1+i)" wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 1 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93458 2 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.92456 0.91573 0.90703 0.89845 0.89000 0.87344 3 0.97059 0.95632 0.94232 0.92860 0.91514 0.90194 0.88900 0.87630 0.86384 0.85161 0.83962 0.81630 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 0.82270 0.80722 0.79209 0.76290 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 0.85734 0.84168 0.82645 0.81162 0.79719 0.69444 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 0.73503 0.70843 0.68301 0.65873 0.63552 0.48225 0.68058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.734830.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 0.65160 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 0.61763 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.19381 10 0.90529 0.86167 0.82035 0.78120 0.74409 0.70892 0.67556 0.64393 0.61391 0.58543 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.16151 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.42888 12 0.88745 0.83639 0.78849 0.74356 0.70138 0.66178 0.62460 0.58966 0.55684 0.52598 0.49697 0.44401 0.39711 13 0.87866 0.82403 0.77303 0.72542 0.68095 0.63940 0.60057 0.56427 0.53032 0.49856 0.46884 0.41496 0.36770 14 0.86996 0.81185 0.75788 0.70773 0.66112 0.61778 0.57748 0.53997 0.50507 0.47257 0.44230 0.38782 0.34046 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 0.44793 0.41727 0.36245 0.31524 0.38753 0.35049 0.31728 0.35553 0.31863 0.28584 0.32618 0.28966 0.25751 0.29925 0.26333 0.23199 0.27454 0.23939 0.20900 0.28748 0.13459 0.25668 0.11216 0.22917 0.09346 0.20462 0.07789 0.18270 0.06491 16 17 18 19 20 0.85282 0.78803 0.72845 0.67362 0.62317 0.84438 0.77639 0.71416 0.65720 0.60502 0.83602 0.76491 0.70016 0.64117 0.58739 0.82774 0.75361 0.68643 0.62553 0.57029 0.81954 0.74247 0.67297 0.61027 0.55368 0.57671 0.53391 0.49447 0.45811 0.42458 0.39365 0.55720 0.51337 0.47318 0.43630 0.40245 0.37136 0.53836 0.49363 0.45280 0.41552 0.38147 0.35034 0.52016 0.47464 0.43330 0.39573 0.36158 0.33051 0.50257 0.45639 0.41464 0.37689 0.34273 0.31180 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.05409 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.04507 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.03756 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.03130 0.25842 0.21455 0.17843 0.14864 0.12403 0.10367 0.02608 21 0.81143 0.73150 0.65978 0.59539 0.53755 24 0.78757 0.69954 0.62172 0.55288 0.49193 25 0.77977 0.68921 0.609530 .53939 0.47761 28 0.75684 0.65910 0.57437 0.50088 0.43708 29 0.74934 0.64936 0.56311 0.48866 0.42435 0.48557 0.43883 0.39679 0.35894 0.32486 0.43796 0.39012 0.34770 0.31007 0.27666 0.42315 0.37512 0.33273 0.29530 0.26223 0.38165 0.33348 0.29157 0.25509 0.22332 0.36875 0.32065 0.27902 0.24295 0.21168 0.29416 0.24151 0.24698 0.19715 0.233000.18425 0.19563 0.15040 0.18456 0.14056 0.19866 0.16370 0.13513 0.11174 0.09256 0.02174 0.15770 0.12640 0.10153 0.08170 0.06588 0.01258 0.14602 0.11597 0.09230 0.07361 0.05882 0.01048 0.11591 0.08955 0.06934 0.05382 0.04187 0.00607 0.10733 0.08215 0.06304 0.04849 0.03738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 40 0.67165 0.55126 0.45289 0.37243 0.30656 0.25257 0.30832 0.26700 0.29646 0.25550 0.208290.17193 0.23138 0.20064 0.17411 0.13137 0.09938 0.22036 0.19018 0.16425 0.12277 0.09202 0.14205 0.11746 0.09722 0.06678 0.04603 0.07537 0.05731 0.04368 0.06915 0.05210 0.03935 0.03184 0.02209 0.01538 0.03338 0.02980 0.01075 0.00421 0.00351 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 FVA - (1 + i)" - 1 wi 1 2 1.0% 1.0000 2.0100 1.5% 1.0000 2.0150 2.0% 1.0000 2.0200 2.5% 1.0000 2.0250 3.0% 1.0000 2.0300 3.5% 1.000 2.0350 4.0% 1.0000 2.0400 4.5% 1.0000 2.0450 5.0% 1.0000 2.0500 5.5% 1.000 2.0550 6.0% 1.0000 2.0600 7.0% 1.0000 2.0700 8.0% 1.000 2.0800 0.0% 1.0000 2.0900 0.0% 1.0000 2.1000 11.0% 1.000 2.1100 12.0% 1.0000 2.1200 20.0% 1.0000 2.2000 3 3.0301 3.0452 3.0604 3.0756 3.0909 3.1062 3.1216 3.1370 3.1525 3.1680 3.1836 3 .2149 3.2464 3.2781 3.3100 3.3421 3.3744 3.6400 4 4.0604 5.1010 4.09094.1216 5.1523 5.2040 4.1525 5.2563 4.1836 5.3091 4.21494.2465 5.3625 5.4163 4.2782 4.3101 5.470755256 4.34234.3746 55811 5.6371 4.4399 5.7507 4.5061 5.8666 4.5731 5.9847 4.6410 6.1051 4.7097 6.2278 4.7793 6.3528 5.3680 7.4416 5 6.7169 6 7 8 9 10 6.1520 7.2135 8.2857 9.3685 10.4622 6.2296 7.3230 8.4328 9.5593 10.7027 6.3081 6.3877 7.43437.5474 8.5830 8.7361 9.7546 9.9545 10.9497 11.2034 6.4684 7.6625 8.8923 10.1591 11.4639 6.5502 7.7794 9.0517 10.3685 11.7314 6.6330 7.8983 9.2142 10.5828 12.0061 9.3800 10.8021 12.2882 6.80196.88816.9753 8.26698.3938 9.7216 9.8975 11.0266 11.2563 11.4913 12.577912.8754 13.1808 7.1533 7.33597.52337.7156 7.9129 8.65408.9228 9.2004 9.48729.7833 10.2598 10.6366 11.0285 11.4359 11.8594 11.9780 12.4876 13.0210 13.5795 14.1640 13.8164 14.4866 15.1929 15.9374 16.7220 8.1152 10.0890 12.2997 14.7757 17.5487 9.9299 12.9159 16.4991 20.7989 25.9587 32.1504 11 12 13 14 15 11.5668 12.6825 13.8093 14.9474 16.0969 11.8633 12.1687 13.0412 13.4121 14.2368 14.6803 15.4504 15.9739 16.6821 17.2934 12.4835 12.8078 13.1420 13.7956 14.1920 14.6020 15.1404 15.6178 16.1130 16.5190 17.0863 17.6770 17.9319 18.5989 19.2957 13.4864 13.8412 15.0258 15.4640 16.6268 17.1599 18.291918.9321 20.0236 20.7841 14.2068 15.9171 17.7130 19.5986 21.5786 14.5835 16.3856 18.2868 20.2926 22.4087 14.9716 16.8699 18.8821 21.0151 23.2760 15.7836 16.6455 17.5603 18.5312 17.888518.977120.1407 21.3843 20.1406 21.4953 22.9534 24.5227 22.5505 24.2149 26.0192 27.9750 25.1290 27.1521 29.360931.7725 19.5614 22.7132 26.2116 30.0949 34.4054 20.6546 24.1331 28.0291 32.3926 37.2797 39.5805 48.4966 59.1959 72.0351 16 17.2579 17.9324 18.639319.3802 20.1569 20.9710 21.8245 22.7193 23.6575 24.6411 25.6725 27.888130.3243 33.0034 35.9497 39.189942.7533 17 18.4304 19.2014 18 19.6147 20.4894 19 20.8109 21.7967 20 22.0190 23.1237 20.0121 20.8647 21.7616 22.7050 23.6975 21.4123 22.3863 23.414424.4997 25.6454 22.8406 23.9460 25.1169 26.3572 27.6712 24.2974 25.5447 26.8704 28.2797 29.7781 26.8551 29.0636 31.3714 28.1324 30.5390 33.0660 26.9964 29.4812 32.1027 34.8683 28.212930.8402 30.9057 33.9990 33.7600 37.3790 36.7856 40.9955 33.7502 36.9737 37.450241.3013 41.4463 46.0185 45.7620 51.1601 40.5447 45.5992 51.1591 57.2750 44.5008 48.8837 50.395955.7497 56.9395 63.4397 64.2028 72.0524 87.4421 105.9306 128.1167 154.7400 186.6880 21 23.2392 24.4705 25.7833 27.1833 28.676530.2695 31.9692 33.7831 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.084961.0071 40 48.8864 54.2679 60.4020 67.4026 75.4013 84.5503 95.0255 107.0303 35.7193 66.4388 120.7998 37.7861 72.4355 136.6056 39.9927 44.8652 50.422956.7645 79.058294.4608 113.2832 136.3075 154.7620 199.6351 259.0565 337.8824 64.0025 72.2651 81.6987 164.4940 199.0209241.3327 442.5926 581.8261 767.0914 225.0256 1181.8816 7343.8578 TABLE 4 Present Value of an Ordinary Annuity of $1 PVA= W 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 1 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 2 1.97040 1.95588 1.94156 1.92742 1.91347 1.899691.886091.872671.85941 1.84632 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 3 4 5 2.940992.91220 3.90197 3.85438 4.85343 4.78264 2.88388 3.80773 4.71346 2.85602 3.76197 4.64583 2.82861 3.71710 4.57971 2.80164 3.67308 4.51505 2.77509 3.62990 4.45182 2.74896 3.58753 4.38998 2.72325 3.54595 4.32948 2.69793 3.50515 4.27028 2.67301 3.46511 4.21236 2.62432 3.38721 4.10020 2.57710 3.31213 3.99271 2.53129 2.48685 2.44371 2.40183 2.10648 3.23972 3.16987 3.10245 3.03735 2.58873 3.88965 3.79079 3.69590 3.60478 2.99061 6 7 8 9 10 5.79548 6.72819 7.65168 8.56602 9.47130 5.69719 6.59821 7.48593 8.36052 9.22218 5.60143 6.47199 7.32548 8.16224 8.98259 5.508135.41719 6.34939 6.23028 7.17014 7.01969 7970877.78611 8.75206 8.53020 5.32855 5.24214 5.15787 6.11454 6.00205 5.89270 0.87396 6.73274 6.59589 7.607697.435337.26879 8.31661 8.11090 7.91272 5.07569 5.78637 6.46321 7.10782 7.72173 4.99553 4.91732 4.76654 4.62288 5.68297 5.58238 5.389295.20637 6.33457 6.20979 5.97130 5.74664 6.95220 6.801696.51523 6.24689 7.537637.360097.023586.71008 4.48592 4.35526 4.23054 4.11141 3.32551 5.03295 4.86842 4.71220 4.56376 3.60459 5.53482 5.33493 5.14612 4.96764 3.83716 5.99525 5.759025 .53705 5.32825 4.03097 0.41766 6.14457 5.88923 5.65022 4.19247 7.88687 8.38384 7.49867 7.13896 7.942697.53608 6.80519 6.49506 7.160736.81369 6.20652 5.93770 6.49236 6.19437 4.32706 4.43922 11 12 13 14 15 10.36763 11.25508 12.13374 13.00370 13.86505 10.07112 10.90751 11.73153 12.54338 13.34323 9.78685 9.51421 10.57534 10.25776 11.34837 10.98319 12.10625 11.69091 12.84926 12.38138 9.252629.00155 9.95400 9.66333 10.63496 10.30274 11.29607 10.92052 11.93794 11.51741 8.76048 9.38507 9.98565 10.56312 11.11839 8.52892 8.30641 9.11858 8.86325 9.682859.39357 10.22283 9.89864 10.73955 10.37966 8.09254 8.61852 9.11 9.58965 10.03758 9.294988.74547 9.712259.10791 8.24424 8.55948 7.78615 8.06069 7.36669 6.98187 6.62817 4.61057 7.60608 7.19087 6.81086 4.67547 16 17 18 14.71787 15.56225 16.39827 14.13126 14.90765 15.67256 13.57771 13.05500 14.29187 13.71220 14.99203 14.35336 12.56110 12.09412 13.16612 12.65132 13.75351 13.18968 11.65230 11.23402 12.16567 11.70719 12.65930 12.15999 10.83777 11.27407 11.68959 10.46216 10.105909.446658.85137 8.31256 10.86461 10.47726 9.76322 9.12164 8.54363 11.24607 10.82760 10.059099.371898.75563 7.82371 7.37916 6.97399 4.72956 8.02155 7.54879 7.11963 4.77463 8.20141 7.701627.24967 4.81219 4.97889 14.32380 13.70984 13.13394 12.59329 12.08532 11.60765 11.15812 10.33560 9.60360 8.95011 8.36492 7.839297.36578 4.84350 2018.04555 17.16864 16.35143 15 58916 14.87747 14.21240 13.59033 13.00794 12 46221 11.95038 11.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 4.86958 21 18.85698 17.90014 17.01121 25 22.02316 20.71961 19.52346 30 25.80771 24.01584 22.39646 40 32.83469 29.91585 27.35548 16.18455 18.42438 20.93029 25.10278 15.41502 17.41315 19.60044 23.11477 14.69797 16.48151 18.39205 21.35507 14.02916 13.40472 12.82115 15.62208 14.82821 14.09394 17.29203 16.28889 15.37245 19.79277 18.40158 17.15909 12.27524 11.76408 13.41393 12.78336 14.53375 13.76483 16.04612 15.04630 10.83553 11.65358 12.40904 13.33171 10.01680 10.67478 11.25778 11.92461 9.29224 9.82258 10.27365 10.75736 8.64869 8.07507 9.07704 8.42174 9.42691 8.69379 9.77905 8.95105 7.56200 4.89132 7.84314 4.94759 8.05518 4.97894 8.24378 4.99660 TABLE 6 Present Value of an Annuity Due of $1 PVAD = 1 (1+50). x (1+i) 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1.00000 1.98522 2.95588 3.91220 4.85438 2.0% 1.00000 1.98039 2.94156 3.88388 4.80773 2.5% 1.00000 1.97561 2.92742 3.85602 4.76197 3.0% 1.00000 1.97087 2.91347 3.82861 4.71710 3.5% 4.0% 4.5% 1.00000 1.00000 1.00000 1.96618 1.96154 1.95694 2.899692.886092.87267 3.80164 3.77509 3.74896 4.67308 4.62990 4.58753 5.0% 1.00000 1.95238 2.85941 3.72325 4.54595 5.5% 1.00000 1.94787 2.84632 3.69793 4.50515 6.0% 1.00000 1.94340 2.83339 3.67301 4.46511 7.0% 1.00000 1.93458 2.80802 3.62432 4.38721 8.0% 0.0% 1.00000 1.00000 1.92593 1.91743 2.78326 2.75911 3.57710 3.53129 4.312134.23972 0.0% 11.0% 12.0% 1.00000 1.00000 1.00000 1.90909 1.90090 1.89286 2.73554 2.71252 2.69005 3.48685 3.44371 3.40183 4.16987 4.10245 4.03735 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 6 5.85343 5.78264 5.71346 5.64583 5.57971 5.51505 5.451825.38998 5.32948 7 6.79548 6.697196.60143 6.50813 6.417196.32855 6.24214 6.15787 6.07569 8 7.728197.59821 7.471997.349397.23028 7.11454 7.00205 6.89270 6.78637 9 8.65168 8.48593 8.32548 8.17014 8.01969 7.87396 7.73274 7.595897.46321 109.566029.360529.16224 8.97087 8.78611 78611 8.607698.43533 8.607698.43533 8.268 8.26879 8.10782 5.27028 5.21236 5.100204.99271 4.88965 5.995535.91732 5.76654 5.62288 5.48592 6.68297 6.58238 6.38929 6.20637 6.03295 733457 7.209796.97130 6.74664 6.53482 7.95220 7.801697.51523 7.246896.99525 4.79079 4.69590 4.60478 3.99061 5.35526 5.23054 5.11141 4.32551 5.868425.71220 5.56376 4.60459 6.33493 6.14612 5.96764 4.83716 6.75902 6.53705 6.32825 5.03097 11 12 13 14 15 10.47130 11.36763 12.25508 13.13374 14.00370 10.22218 11.07112 11.90751 12.73153 13.54338 9.98259 10.78685 11.57534 12.34837 13.10625 9.75206 10.51421 11.25776 11.98318 12.69091 9.53020 10.25262 10.95400 11.63496 12.29607 9.31661 10.00155 10.66333 11.30274 11.92052 9.110908.91272 9.76048 9.52892 10.38507 10.11858 10.98565 10.68285 11.56312 11.22283 8.72173 8.53763 9.306419.09254 9.86325 9.61852 10.39357 10.11708 10.89864 10.58965 8.360098.02358 8.88687 8.49867 9.38384 8.94269 9.85268 9.35765 10.29498 9.74547 7.71008 8.13896 8.53608 8.90378 9.24424 7.41766 7.14457 6.88923 6.650225.19247 7.805197.49506 7.20652 6.93770 5.32706 8.160737.813697.49236 7.19437 5.43922 8.48690 8.10336 7.74987 7.42355 553268 8.78615 8.36669 798187 7.62817 5.61057 16 17 18 19 20 14.86505 15.71787 16.56225 17.39827 18.22601 14.34323 13.84926 13.38138 15.13126 14.57771 14.05500 15.90765 15.29187 14.71220 16.67256 15.99203 15.35336 17.42617 16.67846 15.97889 12.93794 13.56110 14.16612 14.75351 15.32380 12.51741 13.09412 13.65132 14.18968 14.70984 12.11839 12.65230 13.16567 13.65930 14.13394 11.73955 11.37966 12.2340211.83777 12.70719 12.27407 13.15999 12.68959 13.59329 13.08532 11.03758 10.71225 11.46216 11.10590 11.86461 11.47726 12.24607 11.82760 12.60765 12.15812 10.10791 9.55948 9.060698.60608 8.19087 7.81086 5.67547 10.44665 9.851379.31256 8.82371 8.37916 7.97399 5.72956 10.76322 10.12164 9.54363 9.02155 8.54879 8.11963 5.77463 11.05909 10.37189 9.75563 9.20141 8.70162 8.24967 5.81219 11.33560 10.60360 9.95011 9.364928.83929 8.36578 5.84350 21 25 30 40 19.04555 18.16864 17.35143 16.58916 15.87747 15.21240 22.24339 21.03041 19.91393 18.88499 17.93554 17.05837 26.06579 24.37608 22.84438 21.45355 20.18845 19.03577 33.16303 30.36458 27.90259 25.73034 23.80822 22.10250 14.59033 14.00794 16.24696 15.49548 17.98371 17.02189 20.58448 19.22966 13.46221 14.79864 16.14107 18.01704 12.95038 14.15170 15.33310 16.92866 12.46992 13.55036 14.59072 15.94907 11.59401 12.46933 13.27767 14.26493 10.81815 10.12855 9.51356 8.96333 8.469445.86958 11.52876 10.706619.98474 9.34814 8.78432 5.93710 12.15841 11.19828 10.36961 9.65011 9.02181 5.97472 12.87858 11.72552 10.75696 9.93567 9.23303 5.99592 Chapter 15 Exercises A Submitted 0.87/1 Total points awarded Help Exit You received partial credit in the previous attempt. At January 1, 2021, Caf Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $32,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $243,000 (its fair value) and was expected to have a useful life of 12 years with no salvage value at the end of its life. (Because the lease term is only 9 years, the asset does have an expected residual value at the end of the lease term of $73,596.) Crescent seeks a 9% return on its lease investments. By this arrangement, the lease is deemed to be a finance lease. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your intermediate calculations to the nearest whole dollar amount.) 0.07/0.2 points awarded Scored eBook Required: 1. What will be the effect of the lease on Caf Med's earnings for the first year (ignore taxes)? (Enter decreases with negative sign.) 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Caf Med (ignore taxes)? (For all requirements, round your intermediate calculations and final answers to the nearest whole dollar.) References 1. 2. Effect on earnings Lease payable balance (end of year) Right-of-use asset balance (end of year) $ (32,000) $ 161,054 $ 193,054 X TABLE 1 Future Value of $1 FV = $1(1 + i)" 11.0% 1.11000 12.0% 1.12000 20.0% 1.20000 ni 1.0% 1.5% 1 1.01000 1.01500 2 1.02010 1.03022 3 1.03030 1.04568 4 1.04060 1.06136 5 1.05101 1.07728 2.0% 1.02000 1.04040 1.06121 1.08243 1.10408 2.5% 3.0% 1.02500 1.03000 1.05063 1.06090 1.07689 1.09273 1.10381 1.12551 1.13141 1.15927 3.5% 1.03500 1.07123 1.10872 1.14752 1.18769 4.0% 1.04000 1.08160 1.12486 1.16986 1.21665 4.5% 5.0% 5.5% 1.04500 1.05000 1.05500 1.09203 1.10250 1.11303 1.14117 1.15763 1.17424 1.19252 1.21551 1.23882 1.24618 1.27628 1.30696 6.0% 7.0% 8.0% 1.06000 1.07000 1.08000 1.12360 1.14490 1.16640 1.191021.22504 1.25971 1.26248 131080 1.36049 1.33823 1.402551.46933 0.0% 1.09000 1.18810 1.29503 1.41158 1.53862 10.0% 1.10000 1.210 1.33100 1.46410 1.61051 1.36763 1.51807 1.68506 1.40493 1.57352 1.76234 1.72800 2.07360 2.48832 6 1.06152 1.09344 1.12616 1.15969 1.19405 1.22926 1.26532 1.30226 1.34010 1.37884 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 2.98598 7 8 9 10 1.07214 1.10984 1.14869 1.08286 1.12649 1.17166 1.09369 1.14339 1.19509 1.10462 1.16054 1.21899 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 1.50363 1.60578 1.21840 1.26677 131681 1.36857 1.42210 1.47746 1.53469 1.59385171819 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.619091.68948 1.83846 1.28008 1.34392 1.41060 1.48024 1.55297 1.62889 1.70814 1.79085 1.96715 1.71382 1.85093 1.99900 2.15892 1.82804 199256 2.17189 2.36736 1.948722.07616 2.14359230454 2.35795 2.55804 2.59374 2.83942 2.21068 2.47596 2.77308 3.10585 3.58318 4.29982 5.15978 6.19174 11 1.11567 1.17795 1.24337 1.31209 1.38423 1.45997 1.53945 1.62285 1.71034 1.802091.89830 2.104852.33164 2.58043 2.85312 3.15176 3.47855 12 13 14 1.12683 1.13809 1.14947 1.19562 1.21355 1.23176 1.26824 1.34489 1.29361 1.37851 1.31948 1.41297 1.42576 1.46853 1.51259 1.51107 1.56396 1.61869 1.60103 1.69588 1.66507 1.77220 1.73168 1.85194 1.79586 1.901212.01220 1.88565 2.00577 2.13293 1.97993 2.11609 2.26090 2.25219 2.51817 2.409852.71962 2.578532.93719 2.81266 3.06580 3.34173 3.13843 3.45227 3.79750 3.49845 3.88328 4.31044 3.89598 4.36349 4.88711 7.43008 8.91610 10.69932 12.83918 15.40702 15 1.16097 125023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 2.23248 2.39656 2.75903 3.17217 3.64248 4.17725 4.784595.47357 16 1.17258 1.26899 1.37279 1.48451 1.60471 1.73399 1.87298 2.02237 2.18287 8287 2.35526 2.35526 2.54035 2.95216 3.42594 3.97031 4.59497 5.310896.13039 18.48843 2.69277 3.15882 3.70002 4.32763 5.05447 5.895096.86604 17 18 19 20 1.18430 1.19615 1.20811 1.22019 1.28802 1.40024 1.52162 1.30734 1.42825 1.55966 1.32695 1.45681 1.59865 1.34686 1.485951.63862 1.65285 1.79468 1.94790 2.11338 2.29202 2.48480 1.70243 1.85749 2.02582 2.20848 2.40662 2.62147 1.75351 1.92250 2.10685 2.30786 2.52695 2.76565 1.80611 1.98979 2.19112 2.41171 2.65330 2.91776 2.85434 3.02560 3.20714 3.379933.99602 3.61653 4.31570 3.86968 4.66096 4.71712 5.14166 5.60441 5.55992 6.11591 6.72750 6.543557.68997 7.26334 8.61276 8.06231 9.64629 22.18611 26.62333 31.94800 38.33760 21 1.23239 1.36706 25 1.28243 1.45095 30 1.34785 1.56308 40 1.48886 1.81402 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.078233.39956 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.386353.813394.29187 1.81136 2.09757 2.42726 2.806793.24340 3.74532 4.32194 4.98395 5.74349 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 10.28572 4.14056 5.03383 6.10881 7.40025 8.94917 10.80385 46.00512 5.427436.84848 8.62308 10.83471 13.58546 17.00006 95.39622 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 237.37631 14.97446 21.72452 31.40942 45.25926 65.00087 93.05097 1469.77160 TABLE 2 Present Value of $1 $1 PV = (1+i)" wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 1 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93458 2 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.92456 0.91573 0.90703 0.89845 0.89000 0.87344 3 0.97059 0.95632 0.94232 0.92860 0.91514 0.90194 0.88900 0.87630 0.86384 0.85161 0.83962 0.81630 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 0.82270 0.80722 0.79209 0.76290 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 0.85734 0.84168 0.82645 0.81162 0.79719 0.69444 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 0.73503 0.70843 0.68301 0.65873 0.63552 0.48225 0.68058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.734830.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 0.65160 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 0.61763 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.19381 10 0.90529 0.86167 0.82035 0.78120 0.74409 0.70892 0.67556 0.64393 0.61391 0.58543 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.16151 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.42888 12 0.88745 0.83639 0.78849 0.74356 0.70138 0.66178 0.62460 0.58966 0.55684 0.52598 0.49697 0.44401 0.39711 13 0.87866 0.82403 0.77303 0.72542 0.68095 0.63940 0.60057 0.56427 0.53032 0.49856 0.46884 0.41496 0.36770 14 0.86996 0.81185 0.75788 0.70773 0.66112 0.61778 0.57748 0.53997 0.50507 0.47257 0.44230 0.38782 0.34046 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 0.44793 0.41727 0.36245 0.31524 0.38753 0.35049 0.31728 0.35553 0.31863 0.28584 0.32618 0.28966 0.25751 0.29925 0.26333 0.23199 0.27454 0.23939 0.20900 0.28748 0.13459 0.25668 0.11216 0.22917 0.09346 0.20462 0.07789 0.18270 0.06491 16 17 18 19 20 0.85282 0.78803 0.72845 0.67362 0.62317 0.84438 0.77639 0.71416 0.65720 0.60502 0.83602 0.76491 0.70016 0.64117 0.58739 0.82774 0.75361 0.68643 0.62553 0.57029 0.81954 0.74247 0.67297 0.61027 0.55368 0.57671 0.53391 0.49447 0.45811 0.42458 0.39365 0.55720 0.51337 0.47318 0.43630 0.40245 0.37136 0.53836 0.49363 0.45280 0.41552 0.38147 0.35034 0.52016 0.47464 0.43330 0.39573 0.36158 0.33051 0.50257 0.45639 0.41464 0.37689 0.34273 0.31180 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.05409 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.04507 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.03756 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.03130 0.25842 0.21455 0.17843 0.14864 0.12403 0.10367 0.02608 21 0.81143 0.73150 0.65978 0.59539 0.53755 24 0.78757 0.69954 0.62172 0.55288 0.49193 25 0.77977 0.68921 0.609530 .53939 0.47761 28 0.75684 0.65910 0.57437 0.50088 0.43708 29 0.74934 0.64936 0.56311 0.48866 0.42435 0.48557 0.43883 0.39679 0.35894 0.32486 0.43796 0.39012 0.34770 0.31007 0.27666 0.42315 0.37512 0.33273 0.29530 0.26223 0.38165 0.33348 0.29157 0.25509 0.22332 0.36875 0.32065 0.27902 0.24295 0.21168 0.29416 0.24151 0.24698 0.19715 0.233000.18425 0.19563 0.15040 0.18456 0.14056 0.19866 0.16370 0.13513 0.11174 0.09256 0.02174 0.15770 0.12640 0.10153 0.08170 0.06588 0.01258 0.14602 0.11597 0.09230 0.07361 0.05882 0.01048 0.11591 0.08955 0.06934 0.05382 0.04187 0.00607 0.10733 0.08215 0.06304 0.04849 0.03738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 40 0.67165 0.55126 0.45289 0.37243 0.30656 0.25257 0.30832 0.26700 0.29646 0.25550 0.208290.17193 0.23138 0.20064 0.17411 0.13137 0.09938 0.22036 0.19018 0.16425 0.12277 0.09202 0.14205 0.11746 0.09722 0.06678 0.04603 0.07537 0.05731 0.04368 0.06915 0.05210 0.03935 0.03184 0.02209 0.01538 0.03338 0.02980 0.01075 0.00421 0.00351 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 FVA - (1 + i)" - 1 wi 1 2 1.0% 1.0000 2.0100 1.5% 1.0000 2.0150 2.0% 1.0000 2.0200 2.5% 1.0000 2.0250 3.0% 1.0000 2.0300 3.5% 1.000 2.0350 4.0% 1.0000 2.0400 4.5% 1.0000 2.0450 5.0% 1.0000 2.0500 5.5% 1.000 2.0550 6.0% 1.0000 2.0600 7.0% 1.0000 2.0700 8.0% 1.000 2.0800 0.0% 1.0000 2.0900 0.0% 1.0000 2.1000 11.0% 1.000 2.1100 12.0% 1.0000 2.1200 20.0% 1.0000 2.2000 3 3.0301 3.0452 3.0604 3.0756 3.0909 3.1062 3.1216 3.1370 3.1525 3.1680 3.1836 3 .2149 3.2464 3.2781 3.3100 3.3421 3.3744 3.6400 4 4.0604 5.1010 4.09094.1216 5.1523 5.2040 4.1525 5.2563 4.1836 5.3091 4.21494.2465 5.3625 5.4163 4.2782 4.3101 5.470755256 4.34234.3746 55811 5.6371 4.4399 5.7507 4.5061 5.8666 4.5731 5.9847 4.6410 6.1051 4.7097 6.2278 4.7793 6.3528 5.3680 7.4416 5 6.7169 6 7 8 9 10 6.1520 7.2135 8.2857 9.3685 10.4622 6.2296 7.3230 8.4328 9.5593 10.7027 6.3081 6.3877 7.43437.5474 8.5830 8.7361 9.7546 9.9545 10.9497 11.2034 6.4684 7.6625 8.8923 10.1591 11.4639 6.5502 7.7794 9.0517 10.3685 11.7314 6.6330 7.8983 9.2142 10.5828 12.0061 9.3800 10.8021 12.2882 6.80196.88816.9753 8.26698.3938 9.7216 9.8975 11.0266 11.2563 11.4913 12.577912.8754 13.1808 7.1533 7.33597.52337.7156 7.9129 8.65408.9228 9.2004 9.48729.7833 10.2598 10.6366 11.0285 11.4359 11.8594 11.9780 12.4876 13.0210 13.5795 14.1640 13.8164 14.4866 15.1929 15.9374 16.7220 8.1152 10.0890 12.2997 14.7757 17.5487 9.9299 12.9159 16.4991 20.7989 25.9587 32.1504 11 12 13 14 15 11.5668 12.6825 13.8093 14.9474 16.0969 11.8633 12.1687 13.0412 13.4121 14.2368 14.6803 15.4504 15.9739 16.6821 17.2934 12.4835 12.8078 13.1420 13.7956 14.1920 14.6020 15.1404 15.6178 16.1130 16.5190 17.0863 17.6770 17.9319 18.5989 19.2957 13.4864 13.8412 15.0258 15.4640 16.6268 17.1599 18.291918.9321 20.0236 20.7841 14.2068 15.9171 17.7130 19.5986 21.5786 14.5835 16.3856 18.2868 20.2926 22.4087 14.9716 16.8699 18.8821 21.0151 23.2760 15.7836 16.6455 17.5603 18.5312 17.888518.977120.1407 21.3843 20.1406 21.4953 22.9534 24.5227 22.5505 24.2149 26.0192 27.9750 25.1290 27.1521 29.360931.7725 19.5614 22.7132 26.2116 30.0949 34.4054 20.6546 24.1331 28.0291 32.3926 37.2797 39.5805 48.4966 59.1959 72.0351 16 17.2579 17.9324 18.639319.3802 20.1569 20.9710 21.8245 22.7193 23.6575 24.6411 25.6725 27.888130.3243 33.0034 35.9497 39.189942.7533 17 18.4304 19.2014 18 19.6147 20.4894 19 20.8109 21.7967 20 22.0190 23.1237 20.0121 20.8647 21.7616 22.7050 23.6975 21.4123 22.3863 23.414424.4997 25.6454 22.8406 23.9460 25.1169 26.3572 27.6712 24.2974 25.5447 26.8704 28.2797 29.7781 26.8551 29.0636 31.3714 28.1324 30.5390 33.0660 26.9964 29.4812 32.1027 34.8683 28.212930.8402 30.9057 33.9990 33.7600 37.3790 36.7856 40.9955 33.7502 36.9737 37.450241.3013 41.4463 46.0185 45.7620 51.1601 40.5447 45.5992 51.1591 57.2750 44.5008 48.8837 50.395955.7497 56.9395 63.4397 64.2028 72.0524 87.4421 105.9306 128.1167 154.7400 186.6880 21 23.2392 24.4705 25.7833 27.1833 28.676530.2695 31.9692 33.7831 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.084961.0071 40 48.8864 54.2679 60.4020 67.4026 75.4013 84.5503 95.0255 107.0303 35.7193 66.4388 120.7998 37.7861 72.4355 136.6056 39.9927 44.8652 50.422956.7645 79.058294.4608 113.2832 136.3075 154.7620 199.6351 259.0565 337.8824 64.0025 72.2651 81.6987 164.4940 199.0209241.3327 442.5926 581.8261 767.0914 225.0256 1181.8816 7343.8578 TABLE 4 Present Value of an Ordinary Annuity of $1 PVA= W 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 1 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 2 1.97040 1.95588 1.94156 1.92742 1.91347 1.899691.886091.872671.85941 1.84632 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 3 4 5 2.940992.91220 3.90197 3.85438 4.85343 4.78264 2.88388 3.80773 4.71346 2.85602 3.76197 4.64583 2.82861 3.71710 4.57971 2.80164 3.67308 4.51505 2.77509 3.62990 4.45182 2.74896 3.58753 4.38998 2.72325 3.54595 4.32948 2.69793 3.50515 4.27028 2.67301 3.46511 4.21236 2.62432 3.38721 4.10020 2.57710 3.31213 3.99271 2.53129 2.48685 2.44371 2.40183 2.10648 3.23972 3.16987 3.10245 3.03735 2.58873 3.88965 3.79079 3.69590 3.60478 2.99061 6 7 8 9 10 5.79548 6.72819 7.65168 8.56602 9.47130 5.69719 6.59821 7.48593 8.36052 9.22218 5.60143 6.47199 7.32548 8.16224 8.98259 5.508135.41719 6.34939 6.23028 7.17014 7.01969 7970877.78611 8.75206 8.53020 5.32855 5.24214 5.15787 6.11454 6.00205 5.89270 0.87396 6.73274 6.59589 7.607697.435337.26879 8.31661 8.11090 7.91272 5.07569 5.78637 6.46321 7.10782 7.72173 4.99553 4.91732 4.76654 4.62288 5.68297 5.58238 5.389295.20637 6.33457 6.20979 5.97130 5.74664 6.95220 6.801696.51523 6.24689 7.537637.360097.023586.71008 4.48592 4.35526 4.23054 4.11141 3.32551 5.03295 4.86842 4.71220 4.56376 3.60459 5.53482 5.33493 5.14612 4.96764 3.83716 5.99525 5.759025 .53705 5.32825 4.03097 0.41766 6.14457 5.88923 5.65022 4.19247 7.88687 8.38384 7.49867 7.13896 7.942697.53608 6.80519 6.49506 7.160736.81369 6.20652 5.93770 6.49236 6.19437 4.32706 4.43922 11 12 13 14 15 10.36763 11.25508 12.13374 13.00370 13.86505 10.07112 10.90751 11.73153 12.54338 13.34323 9.78685 9.51421 10.57534 10.25776 11.34837 10.98319 12.10625 11.69091 12.84926 12.38138 9.252629.00155 9.95400 9.66333 10.63496 10.30274 11.29607 10.92052 11.93794 11.51741 8.76048 9.38507 9.98565 10.56312 11.11839 8.52892 8.30641 9.11858 8.86325 9.682859.39357 10.22283 9.89864 10.73955 10.37966 8.09254 8.61852 9.11 9.58965 10.03758 9.294988.74547 9.712259.10791 8.24424 8.55948 7.78615 8.06069 7.36669 6.98187 6.62817 4.61057 7.60608 7.19087 6.81086 4.67547 16 17 18 14.71787 15.56225 16.39827 14.13126 14.90765 15.67256 13.57771 13.05500 14.29187 13.71220 14.99203 14.35336 12.56110 12.09412 13.16612 12.65132 13.75351 13.18968 11.65230 11.23402 12.16567 11.70719 12.65930 12.15999 10.83777 11.27407 11.68959 10.46216 10.105909.446658.85137 8.31256 10.86461 10.47726 9.76322 9.12164 8.54363 11.24607 10.82760 10.059099.371898.75563 7.82371 7.37916 6.97399 4.72956 8.02155 7.54879 7.11963 4.77463 8.20141 7.701627.24967 4.81219 4.97889 14.32380 13.70984 13.13394 12.59329 12.08532 11.60765 11.15812 10.33560 9.60360 8.95011 8.36492 7.839297.36578 4.84350 2018.04555 17.16864 16.35143 15 58916 14.87747 14.21240 13.59033 13.00794 12 46221 11.95038 11.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 4.86958 21 18.85698 17.90014 17.01121 25 22.02316 20.71961 19.52346 30 25.80771 24.01584 22.39646 40 32.83469 29.91585 27.35548 16.18455 18.42438 20.93029 25.10278 15.41502 17.41315 19.60044 23.11477 14.69797 16.48151 18.39205 21.35507 14.02916 13.40472 12.82115 15.62208 14.82821 14.09394 17.29203 16.28889 15.37245 19.79277 18.40158 17.15909 12.27524 11.76408 13.41393 12.78336 14.53375 13.76483 16.04612 15.04630 10.83553 11.65358 12.40904 13.33171 10.01680 10.67478 11.25778 11.92461 9.29224 9.82258 10.27365 10.75736 8.64869 8.07507 9.07704 8.42174 9.42691 8.69379 9.77905 8.95105 7.56200 4.89132 7.84314 4.94759 8.05518 4.97894 8.24378 4.99660 TABLE 6 Present Value of an Annuity Due of $1 PVAD = 1 (1+50). x (1+i) 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1.00000 1.98522 2.95588 3.91220 4.85438 2.0% 1.00000 1.98039 2.94156 3.88388 4.80773 2.5% 1.00000 1.97561 2.92742 3.85602 4.76197 3.0% 1.00000 1.97087 2.91347 3.82861 4.71710 3.5% 4.0% 4.5% 1.00000 1.00000 1.00000 1.96618 1.96154 1.95694 2.899692.886092.87267 3.80164 3.77509 3.74896 4.67308 4.62990 4.58753 5.0% 1.00000 1.95238 2.85941 3.72325 4.54595 5.5% 1.00000 1.94787 2.84632 3.69793 4.50515 6.0% 1.00000 1.94340 2.83339 3.67301 4.46511 7.0% 1.00000 1.93458 2.80802 3.62432 4.38721 8.0% 0.0% 1.00000 1.00000 1.92593 1.91743 2.78326 2.75911 3.57710 3.53129 4.312134.23972 0.0% 11.0% 12.0% 1.00000 1.00000 1.00000 1.90909 1.90090 1.89286 2.73554 2.71252 2.69005 3.48685 3.44371 3.40183 4.16987 4.10245 4.03735 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 6 5.85343 5.78264 5.71346 5.64583 5.57971 5.51505 5.451825.38998 5.32948 7 6.79548 6.697196.60143 6.50813 6.417196.32855 6.24214 6.15787 6.07569 8 7.728197.59821 7.471997.349397.23028 7.11454 7.00205 6.89270 6.78637 9 8.65168 8.48593 8.32548 8.17014 8.01969 7.87396 7.73274 7.595897.46321 109.566029.360529.16224 8.97087 8.78611 78611 8.607698.43533 8.607698.43533 8.268 8.26879 8.10782 5.27028 5.21236 5.100204.99271 4.88965 5.995535.91732 5.76654 5.62288 5.48592 6.68297 6.58238 6.38929 6.20637 6.03295 733457 7.209796.97130 6.74664 6.53482 7.95220 7.801697.51523 7.246896.99525 4.79079 4.69590 4.60478 3.99061 5.35526 5.23054 5.11141 4.32551 5.868425.71220 5.56376 4.60459 6.33493 6.14612 5.96764 4.83716 6.75902 6.53705 6.32825 5.03097 11 12 13 14 15 10.47130 11.36763 12.25508 13.13374 14.00370 10.22218 11.07112 11.90751 12.73153 13.54338 9.98259 10.78685 11.57534 12.34837 13.10625 9.75206 10.51421 11.25776 11.98318 12.69091 9.53020 10.25262 10.95400 11.63496 12.29607 9.31661 10.00155 10.66333 11.30274 11.92052 9.110908.91272 9.76048 9.52892 10.38507 10.11858 10.98565 10.68285 11.56312 11.22283 8.72173 8.53763 9.306419.09254 9.86325 9.61852 10.39357 10.11708 10.89864 10.58965 8.360098.02358 8.88687 8.49867 9.38384 8.94269 9.85268 9.35765 10.29498 9.74547 7.71008 8.13896 8.53608 8.90378 9.24424 7.41766 7.14457 6.88923 6.650225.19247 7.805197.49506 7.20652 6.93770 5.32706 8.160737.813697.49236 7.19437 5.43922 8.48690 8.10336 7.74987 7.42355 553268 8.78615 8.36669 798187 7.62817 5.61057 16 17 18 19 20 14.86505 15.71787 16.56225 17.39827 18.22601 14.34323 13.84926 13.38138 15.13126 14.57771 14.05500 15.90765 15.29187 14.71220 16.67256 15.99203 15.35336 17.42617 16.67846 15.97889 12.93794 13.56110 14.16612 14.75351 15.32380 12.51741 13.09412 13.65132 14.18968 14.70984 12.11839 12.65230 13.16567 13.65930 14.13394 11.73955 11.37966 12.2340211.83777 12.70719 12.27407 13.15999 12.68959 13.59329 13.08532 11.03758 10.71225 11.46216 11.10590 11.86461 11.47726 12.24607 11.82760 12.60765 12.15812 10.10791 9.55948 9.060698.60608 8.19087 7.81086 5.67547 10.44665 9.851379.31256 8.82371 8.37916 7.97399 5.72956 10.76322 10.12164 9.54363 9.02155 8.54879 8.11963 5.77463 11.05909 10.37189 9.75563 9.20141 8.70162 8.24967 5.81219 11.33560 10.60360 9.95011 9.364928.83929 8.36578 5.84350 21 25 30 40 19.04555 18.16864 17.35143 16.58916 15.87747 15.21240 22.24339 21.03041 19.91393 18.88499 17.93554 17.05837 26.06579 24.37608 22.84438 21.45355 20.18845 19.03577 33.16303 30.36458 27.90259 25.73034 23.80822 22.10250 14.59033 14.00794 16.24696 15.49548 17.98371 17.02189 20.58448 19.22966 13.46221 14.79864 16.14107 18.01704 12.95038 14.15170 15.33310 16.92866 12.46992 13.55036 14.59072 15.94907 11.59401 12.46933 13.27767 14.26493 10.81815 10.12855 9.51356 8.96333 8.469445.86958 11.52876 10.706619.98474 9.34814 8.78432 5.93710 12.15841 11.19828 10.36961 9.65011 9.02181 5.97472 12.87858 11.72552 10.75696 9.93567 9.23303 5.99592