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An asset with a market value of $100,000 is leased on January 1, 2008. Five...

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Accounting

An asset with a market value of $100,000 is leased on January 1, 2008. Five annual lease payments aredue each January 1 beginning January 1, 2008. The lessee guarantees the $40,000 residual value of theasset as of the end of the lease term on December 31, 2012. The lessors implicit interest rate is 8% What is the annual lease payment?a.$18,227b.$16,877c.$23,191d.$25,046

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