Question: i need help answering my required Problem 5-11 (Algo) Solving for unknown lease payment [LO5-9, 5-10] Bravo Manufacturing Company is negotiating with a customer for
Problem 5-11 (Algo) Solving for unknown lease payment [LO5-9, 5-10] Bravo Manufacturing Company is negotiating with a customer for the lease of a large machine manufactured by Bravo. The machine has a cash price of $830,000. Bravo wants to be reimbursed for financing the machine at a 9% annual interest rate. Required: 1. Determine the required lease payment if the lease agreement calls for 10 equal annual payments beginning immediately. 2. Determine the required lease payment if the first of 10 annual payments will be made one year from the date of the agreement. 3. Determine the required lease payment if the first of 10 annual payments will be made immediately and Bravo will be able to sell the machine to another customer for $53,000 at the end of the 10 -year lease. Note: For all requirements, Use tables, Excel, or a financial calculator. (FV of S1, PV of S1, EVA of S1, PVA of S1, EVAD ofS1 and PVAD of \$1)
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