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Exercise 21-1 (Part Level Submission) On January 1, 2017, Manigold Corporation signed a 5-year noncancelable...

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Accounting

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Exercise 21-1 (Part Level Submission) On January 1, 2017, Manigold Corporation signed a 5-year noncancelable lease for a machine. The terms of the lease caled for Marigcld to make annual payments of s8,162 at the beginning of each year, starting January 1, 2017, The machine has an estimated useful life of s ears and a $5,100 unguaranteed esidual alue. The machine re erts back to e lessor at the end o the lease term Marigold uses the straight line method of depreciation or all o its plant assets. Marigold's crementa borrowing ate is 9% and the lessor's implicit ate is unknow Click herc to vie factar tables (b) Your answer ls correct Compute the present value of the minimum ease payments. The present value of the minimum lease payments Round present value actor cn cu ations to S decirna, places, e1 251 4 ande efina answer to O decima places c g. S 97

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