Atlanta Capital Leasing Company (ACLC) leases tractors to construction companies. The firm wants to set a threeyear
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Atlanta Capital Leasing Company (ACLC) leases tractors to construction companies. The firm wants to set a three‐year lease payment schedule for a tractor purchased at $53,000 from the equipment manufacturer. The asset is classified as a five‐year MACRS property. The tractor is expected to have a salvage value of $22,000 at the end of three years of rental. ACLC will require the lessee to make a security deposit of $1,500 that is refundable at the end of the lease term. ACLC’s marginal tax rate is 35%. If ACLC wants an after‐tax return of 10%, what lease payment schedule should be set?
Salvage ValueSalvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...
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The required lease payment should be 16651 per year payable at the ...View the full answer
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