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What the first year interest expense would be

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Present and future value tables of $1 at 11% are presented below.

Question 1: Titanic Corporation leased executive limousines under terms of $20,000 to be paid at the inception of the lease, and four equal annual payments of $30,000 to each be paid thereafter on the anniversary date of the lease. The interest rate implicit in the lease is 11%. The first year's interest expense would be:

Reference no: EM132648373

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What the first year interest expense would be : Titanic Corporation leased executive limousines under terms of $20,000. The interest rate implicit in lease is 11%. The first year's interest expense would be.
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