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Suppose that instead of $1,030, Kingbird expects the residual value to be only $500 (the...

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Accounting

Suppose that instead of $1,030, Kingbird expects the residual value to be only $500 (the guaranteed amount is still $1,030). How does the calculation of the present value of the lease payments change from part (b)? (Round answer to 0 decimal places, e.g. 5,275.)

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