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On December 31, 2024, Windsor Corporation signed a 5-year, non cancelable lease for a machine...

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Accounting

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On December 31, 2024, Windsor Corporation signed a 5-year, non cancelable lease for a machine The terms of the lease callied for Windsor to make annual payments of 59,353 at the beginning of each year, starting December 31,2024. The machine has an estimated useful life of 6 years and a $4,800 unguaranteed residual value. The machine reverts back to the fessor at the end of the lease term. Windsor uses the straight-line method of dopreciation for all of its plant assets. Windsor's incremental borrowinge rate is 9%, and the lessor's implicit rate is unknown. Click here to view factor tables, (a) Your answer has been saved. See score detalls after the due date. What type of lease is this? This is a/an lease. (b) Compute the present value of the lease payments. (For calculotion purposes, use 5 decimat ploces as displayed in the foctor toble provided and round final anawer to 0 decimal ploces es 5,275. Fresent value of the lease parments

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