What must be the amount of quarterly lease payments

Reference no: EM132642332

Question - Sales-type lease; lessor; calculate lease payments

Manning Imports is contemplating an agreement to lease equipment to a customer for four years. Manning normally sells the asset for a cash price of $230,000. Assume that 8% is a reasonable rate of interest. What must be the amount of quarterly lease payments (beginning at the commencement of the lease) in order for Manning to recover its normal selling price as well as be compensated for financing the asset over the lease term?

Reference no: EM132642332

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