Question: Given the following information, compute the annual lease payment (paid in advance) that a lessor will require: a. Purchase price of $260,000, interest rate of

Given the following information, compute the annual lease payment (paid in advance) that a lessor will require:
a. Purchase price of $260,000, interest rate of 13 percent, 5-year lease period, and no residual value
b. Purchase price of $138,000, interest rate of 6 percent, 9-year lease period, and a near-certain residual value of $20,000
c. Purchase price of $773,000, interest rate of 9 percent, 10-year lease period, and no residual value

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