As of the date of Colony Farm's most recent financial statements, 3½ years remained in the term of a capital lease reported as a long-term liability of $27,400. If the beginning-of-month lease payments are $750, what monthly compounded nominal (annual) discount rate was used in valuing the lease?

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The Answer of As of the date of Colony Farm's most recent financial statements, 3½ years remained in the term of a capital lease reported as a long-term liability of $27,400. If the beginning-of-month lease payments are $750, what monthly compounded nominal (annual) discount rate was used in valuing the lease?

As of the Date of Colony Farm's Most Recent Financial