Blossom Corporation purchased a piece of equipment for $99,000. Blossom wanted to lease...
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Blossom Corporation purchased a piece of equipment for $99,000. Blossom wanted to lease out the equipment to a customer for Unresolved years, at the end of which time the customer could purchase the equipment for $5,000 (at a time when its fair value would be $10,000). Annual payments on the lease would be due at the beginning of each year. Click here to view the factor table Click here to view the factor table In order to earn a 10% return, what minimum lease payments should Blossom charge its customer for this equipment lease? (Round factor values to 5 decimal places, e.g. 1.25124. Round answer to 0 decimal places, e.g. 5,275.) Minimum lease payments
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