Question: M&O Company is preparing an Excel spreadsheet for a 5-year finance lease. The implicit interest rate in the lease is 6%. The beginning of the

M&O Company is preparing an Excel spreadsheet for a 5-year finance lease. The implicit interest rate in the lease is 6%. The beginning of the lease is January 1. Lease payments are made each December 31. A portion of the spreadsheet appears as follows: D E c A 1 B Effective rate: Lease payments: Term to maturity in years: 0.06 100,000 5 2. 3 4 Interest Expense Outstanding Balance Cash Payment Change in Balance 5 Period 0 6 7 8 1 2 What formula should M&O use in cell C8? Multiple Choice -08-07 18.00

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