Capital Leasing leases commercial kitchen equipment to restaurants, hotels, hospitals, and other institutions. Capital Leasing calculates the

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Capital Leasing leases commercial kitchen equipment to restaurants, hotels, hospitals, and other institutions. Capital Leasing calculates the payments on its four-year leases so that it recovers the purchase price of the equipment plus a return on investment of 16% compounded annually over the term of the lease. What will be the required lease payments at the beginning of each quarter on equipment purchased by Capital for $57,000?
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