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For the Following Lease,determine the Minimum Lease Payments for the Lessee

question 75

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For the following lease,determine the minimum lease payments for the lessee.  Annual lease payment at the end of the end $23,000 Lease term 5 Incremental rate 10% Implicit rate (knownto lessee)  8% Unguaranteed residual value 5,000 Guaranteed residual value 20,000\begin{array}{|l|l|}\hline\text { Annual lease payment at the end of the end } & \$ 23,000 \\\hline \text { Lease term } & 5 \\\hline \text { Incremental rate } & 10 \% \\\hline \text { Implicit rate (knownto lessee) } & 8 \% \\\hline \text { Unguaranteed residual value } & 5,000 \\\hline \text { Guaranteed residual value } & 20,000\\\hline\end{array}

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