Business, 01.07.2019 20:20 lucywood2024

Pepper, inc. agrees to lease equipment from the blue corporation for 10 years at $25,000 at the end of each year. the equipment has a fair value of $175,000 and an estimated useful life of 10 years. the lease includes a guaranteed residual value of $10,000. in addition to the lease payments, pepper will pay $5,000 per year for a maintenance agreement. pepper can finance this lease with its bank at a 12% rate. the lessor’s implicit lease rate, known to the lessee, is 10%. the lessor and the lessee use asc 840 guidelines for lease accounting. present value interest factors are: 10% 12% pv factor of $1 for 10 periods 0.38554 0.32197 pv factor for ordinary annuity for 10 periods 6.14457 5.65022 the lease liability will be valued on pepper’s balance sheet at (round intermediate and final answer to the nearest whole dollar amount.)

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Pepper, inc. agrees to lease equipment from the blue corporation for 10 years at $25,000 at the end...

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