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Question - Federated Fabrications leased a tooling machine on January 1, 2021, for a three-year period ending December 31, 2023. The lease agreement specified annual payments of $36,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2022. The company had the option to purchase the machine on December 30, 2023, for $45,000 when its fair value was expected to be $60,000, a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life was six years with no salvage value. Federated was aware that the lessor's implicit rate of return was 12%.
Required - Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term.
make a comparison of the following items and note trends.bullrevenuesbullcost of good soldbullaccounts
Suppose that IWT has just made the $50 million distribution in the form of dividends. What is IWT's intrinsic value of equity? What is its intrinsic stock price
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Devon Harris Company sells 10% bonds having a maturity value of $2,741,000 for $2,543,396. The bonds are dated January 1, 2014, and mature January 1, 2019. Interest is payable annually on January 1. Determine the effective interest rate:
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