Falls Financial Corp. 2020 annual report discloses the following lease payments: Fiscal year Capital Operating...
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Falls Financial Corp. 2020 annual report discloses the following lease payments: Fiscal year Capital Operating leases leases 2021 $12,936 $2,281,440 2022 10,584 653,856 2023 8,232 478,632 2024 0 92,904 2025 0 36,456 Net minimum lease payments $31,752 $3,543,288 Less amount representing interest 5,800 Present value of lease obligations $25,952 What is the approximate implicit rate of return on the capital leases? Select one: a. 11.7% b. 10.2% C. 18.3% d. 9.1% e. 8.8%
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