Business, 17.12.2019 02:31 smithsa10630

Titanic corporation leased executive limousines under terms of $20,000 to be paid at the inception of the lease, and four equal annual payments of $30,000 to each be paid thereafter on the anniversary date of the lease.
the interest rate implicit in the lease is 11%.
the first year's interest expense would be: (a) $15,543.(b) $13,200.(c) $10,238.(d) $33,200.

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Titanic corporation leased executive limousines under terms of $20,000 to be paid at the inception o...

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