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Current Attempt in Progress Sunland Company Inc. has an asset with...

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Accounting

Current Attempt in Progress
Sunland Company Inc. has an asset with a fair market value of $448000 that it wants to lease. Sunland Company's wants to
recover its net investment in the leased asset and earn an 8% return. The asset will revert back to Sunland Company's at the
end of a 5-year lease term and it is expected that the residual value of the asset will be $26000 at the end of the lease. If
Sunland Company wants to charge rent semi-annually starting at the beginning of the lease, what amount should the lease
payments be?(Round present value factor calculations to 5 decimal places, e.g.1.25124.)
Click here to view the factor table.
$51028
$103173
$64503
$99076
image

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