Moor Leasing leases equipment to Wong Manufacturing. The fair value of the equipment is $527,169. Lease payments,
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Moor Leasing leases equipment to Wong Manufacturing. The fair value of the equipment is $527,169. Lease payments, excluding executory costs, are $60,000 per year, payable in advance, for 15 years. What is the implicit rate of interest Moor Leasing should use to record this capital lease on its books?
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Related Book For 
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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