Business, 24.12.2019 19:31 landenDfisher

Xyz company leased equipment to west corporation under a lease agreement that qualifies as a finance lease to west but not as a result of a bargain purchase option or a title transfer.

the present value of the lease payments is $660,000.

the expected economic life of the asset is seven years.

the lease term is five years.

using the straight-line method, what would west record as annual amortization?

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