Short Answer
A new lease contract has just been signed for a digital engraving machine. It has been determined that this lease is a capital lease containing the following terms:
Term - 5 years
Payments - $ 5,000 due at the end of each contract year
Discount Rate - 6%
Instructions
Calculate the amount used to capitalize the engraving machine. Round your answer to the nearest dollar.
Correct Answer:
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Correct Answer:
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