Business, 02.07.2019 03:10 Tahliyah9420

Robbins, inc. leased a machine from ready leasing co. the lease qualifies as a capital lease and requires 10 annual payments of $10,000 beginning immediately. the lease specifies an interest rate of 12% and a purchase option of $10,000 at the end of the tenth year, even though the machine's estimated value on that date is $20,000. robbins' incremental borrowing rate is 14%.the present value of an annuity due of $1 at: 12% for 10 years is 6.328 14% for 10 years is 5.946the present value of $1 at: 12% for 10 years is .322 14% for 10 years is .270what amount should robbins record as lease liability at the beginning of the lease term? a. $62,160b. $64,860c. $66,500d. $69,720

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Robbins, inc. leased a machine from ready leasing co. the lease qualifies as a capital lease and req...

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