Compute what is the amount of lease receivable capitalized

Reference no: EM131901761

Problem

Lease Capitalization: A lessor entered into a capital lease. The agreement requires six annual payments of $160,000 in advance. The implicit interest 10%. The residual value is $130,164 and is guaranteed. What is the amount of Lease Receivable capitalized? Please show work.

Reference no: EM131901761

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