The correct answer is $5414
Explanation and Format
Lease liability = monthly lease payment * Present value annuity (1%,20)
= 300 * ((1-(1.01)^-20)/.01)
= 300*18.04555
= $ 5414
Thus the correct answer is $ 5414
A company needs construction equipment to complete a project over the next 20 months. The equipment...
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