Cong Digital Lear|+ v Bock ex 10+ Audit cGraw Hi840-30-35 htps United Intranet i

Question

Cong Digital Lear|+ v Bock ex 10+ Audit cGraw Hi840-30-35 htps United Intranet internal Revenue Sen Y Yahoo rombie & Help Save & Exi Present and future value tables of $1 at 3% are presented below. 1 1.03000 .97887 1.08800.9788 2 1.8689 .94260 2.0909 1.97887 .1836 2.91347 4.309 5.46844.71718 6.66255.57971 2.0300 1.91347 14 3.9892.82861 4 1.12551 .88849 4.1836 3 5 1.1592 6 1.19485 .837486.46845.41719 0.86261 5,309 4.57971 1.22987 8.81309 7.81969 9.1591 7.23828 9 8.81969 11.46398.53828 11.8878 8.78611 13.1920 9.53020 12 1.42576 8.78138 14.19209.95400 14.6178 18.25262 13 1.468530.68895 15.617810.63496 16.0863 10.95480 17.5989 11.63496 18.5989 11.93794 19.1569 12.29607 16 1.68471 .62317 28.1569 12.56110 20.7616 12.93794 1.38477 0.76642 10.1591 7.78611 11 1.38423 8-72242 12.8078 9.25262 51259 |.661 12 ,64186 17.0863 11.2968 7 55797 A firm leases equipment under a long-term lease (analogous to an installment purchase) that calls for 12 semiannual payments of $39,014.40. The first payment is due at the inception of the lease. The annual rate on the lease is 6% What is the value of the leased asset at inception of the lease?

Explanation / Answer

PVAD = $39,014.40 x 10.25262 * = $400,000

*PVAD of $1: n = 12; i = 3%   

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