Garcia Supply leased equipment from Ace Leasing. Ace earns interest under such arrangements at a...
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Garcia Supply leased equipment from Ace Leasing. Ace earns interest under such arrangements at a 6% annual rate. The lease term is nine-months with monthly payments of $12,500 due at the end of each month. Garcia elected the short-term lease option. What is the effect of the lease on Garcias earnings during the nine-month term (ignore taxes)?
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