Java Hut leased a specialty expresso machine for a 10-year non-cancelable term. At the end of the

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Java Hut leased a specialty expresso machine for a 10-year non-cancelable term. At the end of the 10-year term, Java Hut has four consecutive one-year renewal options. A replacement machine can be acquired, but due to an expensive installation process and Java Hut's lease term for its store, Java Hut expects to lease the machine for 12 years. What is the lease term?
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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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