Question: September 3 0 , 2 0 2 4 , Truckee Garbage leased equipment from a supplier and agreed to pay $ 1 3 3 ,

September

30, 2024,

Truckee Garbage leased equipment from a supplier and agreed to pay $

133, 000

annually for

15

years ginning September

30, 2025 .

Generally accepted accounting principles require that a liability be recorded for this lease agree the present value of scheduled payments. Accordingly, at inception of the lease, Truckee recorded a $

1, 708, 952

lease liability

quired:

termine the interest rate implicit in the lease agreement.

te: Use tables, Excel, or a financial calculator. Round your answer to

1

decimal place.

(

FV of $

1, P V

of $

1,

FVA of $

1,

PVA of $

A D

of $

1

and PVAD of $

1)

erest rate implicit

%

September 30,2024, Truckee Garbage leased equipment from a supplier and agreed

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