Business, 15.04.2021 19:00 babyduckies37

Thomas entered a four-year sales-type lease with a lessee. The lease is for equipment with a fair value of $40,000, a cost of $34,000, and a residual value of $7,000. The lease has an implicit rate of 6%. The present value factor of a single sum for four periods at 6% is .79209, and the present value factor of an ordinary annuity for four periods at 6% is 3.46511. What amount of gross profit will Thomas report if the lease has a(n) Guaranteed Residual Value Unguaranteed Residual Value $6,000 $6,000 $24,256 $28,455 $40,000 $34,455 $6,000 $5,545

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Thomas entered a four-year sales-type lease with a lessee. The lease is for equipment with a fair va...