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Exercise 15-24(Algo) Calculation of annual lease payments; residual value [LO15-2,15-6] Each of the four...

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Accounting

Exercise 15-24(Algo) Calculation of annual lease payments; residual value [LO15-2,15-6]
Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor's implicit rate of return.
Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
\table[[,Situation],[,1,2,3,4],[Lease term (years),5,8,6,9],[Lessor's rate of return,10%,11%,9%,,12%
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