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What is the total amount of interest revenue

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Question - Jagadison Co. leases computer equipment to customers under sales-type leases. The equipment has no residual value at the end of the lease and the leases do not contain purchase options. Jagadison desires a return of 12% interest on a seven-year lease of equipment with a fair value of $720,651. The present value of an annuity due of $1 at 12% for seven years is 5.111. What is the total amount of interest revenue that Jagadison will earn over the life of the lease?

Reference no: EM132839089

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