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02-11-2022
Business

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on january 1, ramirez supply leased a car for a four-year period, at which time possession of the car will revert back to the lessor. annual lease payments are $27,400 due on december 31 of each year, calculated by the lessor using a 7% discount rate. negotiations led to ramirez guaranteeing the lessor a $82,200 residual value at the end of the lease term although ramirez estimates that the residual value after four years will be $78,400. what is the amount to be added to the right-of-use asset and lease payable under the residual value guarantee? (round your answer to the nearest whole dollar.) the present value of $1: n

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