Question: On June 1 , 2 0 2 6 , Florida National leased a building. The lease agreement calls for Florida National to make lease payments

On June 1,2026, Florida National leased a building. The lease agreement calls for Florida National to make lease payments of $3,618.18 each month for the next 2 years, with the first lease payment beginning June 30. The companys normal borrowing rate is 8%.
Required:
Calculate the present value of the lease payments. (Hint: Use a financial calculator or Excel.)
How will the signing of the lease agreement on June 1,2026, affect the financial statements?

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