For each of the following three separate finance lease scenarios, determine the lease payment that the lessee should use to determine the appropriate lease classification. a. An annual lease payment for equipment was $50,000 and included a fee of $5,000 for maintenance of the equipment. b. An annual lease payment for equipment was $55,000 and included both a fee of $4,000 for maintenance and $5,000 for insurance on the equipment. c. An annual lease for a building was $120,000 and included $10,000 for property taxes and $6,000 for parking lot maintenance.
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For each of the following three separate finance lease scenarios, determine the lease payment that t...
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