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Roscoe Company entered into a lease of special equipment to Mac Company. The lease term was six years. The equipment cost Roscoe $40,000 and Roscoe plans to earn a $4,000 dealer profit. Roscoe's implicit rate on the lease is 12 percent.

As a result of this agreement, Roscoe will receive year-end lease payments of:

A) $7,333.

B) $8,213.

C) $10,702.

D) $12,090.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M980562

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