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A lease agreement that qualifies as a capital lease calls

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A lease agreement that qualifies as a capital lease calls for annual lease payments of $26,269 over a six-year lease term, with the first payment at January 1, the leases inception. The interest rate is 5%. If Lessee's fiscal year is the calendar year, complete the amortization schedule for the first two payments.

Reference no: EM13590322

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