Here is a lease amortization schedule for Jedi Corporation.
Total interest over term of lease. ??
Annual straight-line depreciation on the leased asset. ??
Required:
(a) Calculate the effective interest and the decrease in balance for the first lease payment.
(b) Calculate the initial lease obligation above.
(c) Calculate the annual depreciation amount. (Round to the nearest dollar.)
(d) Calculate the annual interest rate.
(e) Calculate the missing amounts for rows for payments 10 and 11.
(f) Calculate the total effective interest over the term of the lease.
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