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Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1,2024. Edison purchased the...

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Accounting

Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1,2024. Edison purchased the equipment from International Machines at a cost of $135,990.
Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
\table[[Related Information:,],[Lease term,2 years (8 quarterly periods)],[Quarterly rental payments,$18,200 at the beginning of each period],[Economic life of asset,2 years],[Fair value of asset,$135,990
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