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Business, 27.02.2020 04:55 HourlongNine342

Pop Consulting leased machinery to Red Inc. on July 1, 2018. The lease was recorded as a sales type lease. The present value of the lease payments discounted at 8% was $274,149. Ten annual lease payments of $44,617 are due each July 1 beginning July 1, 2018. Pop had manufactured the equipment at a cost of $156,000. The total increase in earnings (pretax) on Pop's December 31, 2018, income statement would be:_

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Pop Consulting leased machinery to Red Inc. on July 1, 2018. The lease was recorded as a sales type...
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