“5. (TCO D) Bucky, Inc. leased equipment from Green Enterprises under a 4-year lease requiring equal annual payments of $65,000, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4-year useful life and no salvage value. Bucky, Inc.’s incremental borrowing rate is 10% and the rate implicit in the lease (which is known by Pisa, Inc.) is 8%. Assuming that this lease is properly classified as a capital lease, what is the amount of interest expense recorded by Bucky, Inc. in the first year of the asset’s life? PV Annuity Due PV Ordinary Annuity8%, 5 periods 4.31213 3.992716%, 5 periods 4.46511 4.21236 (Points : 5) 0$17,223$22,423$20,762
“5. (TCO D) Bucky, Inc. leased equipment from Green Enterprises under a 4year lease requiring equal annual payments of $65,000, with the first payment due at lease inception. The lease does…
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