Question: ulz Saved Help Save & Exit Sub On December 31, 2018, Perry Corporation leased equipment to Admiral Company for a five-year period. The annual lease

ulz Saved Help Save & Exit Sub On December 31, 2018, Perry Corporation leased equipment to Admiral Company for a five-year period. The annual lease payment, excluding nonlease components, is $48,000. The interest rate for this lease is 13%. The payments are due on December 31 of each year. The first payment was made on December 31, 2018. The normal cash price for this type of equipment is $145,000 while the cost to Perry was $112,000. For the year ended December 31, 2018, by what amount will Perry's earnings increase due to this lease (ignore taxes)? Multiple Choice $46,000 $43,000. $33,000

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