Business, 06.10.2019 01:00, breezer20042

On june 30, 2018, georgia-atlantic, inc., leased warehouse equipment from ic leasing corporation. the lease agreement calls for georgia-atlantic to make semiannual lease payments of $562,907 over a three-year lease term, payable each june 30 and december 31, with the first payment at june 30, 2018. georgia-atlantic’s incremental borrowing rate is 10%, the same rate ic used to calculate lease payment amounts. ic purchased the equipment from builders, inc.. at a cost of $3 million. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.)

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On june 30, 2018, georgia-atlantic, inc., leased warehouse equipment from ic leasing corporation. th...