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Business, 14.05.2021 18:30 lmirandanvmi

Whale Inc. leased equipment from Dolphin Leasing Co. on July 1, 2021, in a sales-type lease. The present value of the lease payments discounted at 8% was $90,000. Nine annual lease payments of $14,000 are due each July 1, beginning July 1, 2021. The total decrease in earnings (pretax) in Whale's Dec. 31, 2021, income statement would be:

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Whale Inc. leased equipment from Dolphin Leasing Co. on July 1, 2021, in a sales-type lease. The pre...

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