Business, 18.02.2020 17:41 diamondalize21p84czi

Jill Morris is presently leasing a small business computer from Eller Office Equipment Company. The lease requires 14 annual payments of $13,000 at the end of each year and provides the lessor (Eller) with an 9% return on its investment. You may use the following 9% interest factors: 10 Periods 14 Periods 16 Periods Future Value of 1 2.36736 3.34173 3.97031 Present Value of 1 0.42241 0.29925 0.25187 Future Value of Ordinary Annuity of 1 15.19293 26.01919 33.00340 Present Value of Ordinary Annuity of 1 6.41766 7.78615 8.31256 Present Value of an Annuity Due of 1 6.99525 8.48690 9.06069 Assuming the computer has a ten-year life and will have no salvage value at the expiration of the lease, what was the original cost of the computer to Eller?

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Jill Morris is presently leasing a small business computer from Eller Office Equipment Company. The...