Ivanhoe Leasing Company signs an agreement on January 1, 2017, to lease equipment to Cole...
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Ivanhoe Leasing Company signs an agreement on January 1, 2017, to lease equipment to Cole Company. The following information relates to this agreement 1 The term ofthe 2. The cost of the asset to the lessor is $293,000. The fair value of the asset at January 1, 2017, is $293,000. 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of $35,445, none of which is guaranteed. on January 1, 2017 e the amount of the annual rental payment required. (Round present value factor of
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