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

question 51

Multiple Choice

For the following lease,determine the minimum lease payments for the lessee. $\begin{array}{|l|l|}\hline \text { Annual lease payment at the end of the end } & \$ 22,000 \\\hline \text { Lease term } & 5 \\\hline \text { Incremental rate } & 10 \% \\\hline \text { Implicit rate (unknown to lessee) } & 8 \% \\\hline \text { Unguaranteed residual value } & 15,000 \\\hline \text { Bargain purchase option } & 5,000\\\hline \end{array}$

• A)86,502
• B)91,243
• C)95,816
• D)101,451

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