LMN leases construction equipment on sales-type leases.LMN wants to record a $7,000 dealer's profit on assets leased,each of which cost $60,000.What annual year-end rentals should LMN quote to earn a 12 percent return on 8-year leases?
A) $6,625
B) $8,375
C) $9,380
D) $13,487
Correct Answer:
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