Business, 03.08.2021 16:00 raymondmunoz4451

The 10 payments are made annually starting with the inception of the lease. Title does not transfer to the lessee and there is no bargain purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable. Payment Cash Payment Effective Interest Decrease in balance Balance
90,938
1 13,000 13,000 77,938
2 13,000 7,014 5,986 71,953
3 13,000 6,476 6,524 65,428
4 13,000 5,889 7,111 58,317
5 13,000 5,249 7,751 50,565
6 13,000 4,551 8,449 42,116
7 13,000 3,790 9,210 32,907
8 13,000 2,962 10,038 22,868
9 13,000 ? ? ?
10 13,000 ? ? ?

What would be the outstanding balance after payment #10?
a. $0.
b. $11,927.
c. $13,000.
d. $1,073.

Answers: 1

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The 10 payments are made annually starting with the inception of the lease. Title does not transfer...

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