Question: Current Attempt in Progress Sunland Limited is leasing a used Caterpillar excavator to Town Construction Ltd. The term of the lease is 8 years

Current Attempt in Progress Sunland Limited is leasing a used Caterpillar excavator to Town Construction Ltd. The term of the lease is 8 years and the excavator will be owned by Town at the end of the lease if Town makes an additional payment to Sunland of $42,000. The excavator cost Sunland $495,000. Sunland wants to charge a rate of 10% on the lease. What will be the amount of the annual lease payments if the payments are made at the end of each of the next 8 years? (a) Of the variables listed, choose the variable being calculated? eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer

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