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

Question 5

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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 $23,104 Lease term 5 Incremental rate 10% Implicit rate (unknown to lessee)  8% Unguaranteed residual value 10,000 Guaranteed residual value 20,000\begin{array} { | l | l | } \hline \text { Annual lease payment at the end of the end } & \$ 23,104 \\\hline \text { Lease term } & 5 \\\hline \text { Incremental rate } & 10 \% \\\hline \text { Implicit rate (unknown to lessee) } & 8\% \\\hline \text { Unguaranteed residual value } & 10,000 \\\hline \text { Guaranteed residual value } & 20,000 \\\hline\end{array}


A) 87,582
B) 93,792
C) 100,001
D) 106,210

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