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Leya [2.2K]
2 years ago
9

On January 1 2017 ,Bonita corporation sighned a 3 year noncancelable lease for several computers.The terms of the lease called f

or Bonita to make annual payments of $4100 at the beginning of each year , starting January 1 , 2017 . The computers have an estimated useful life of 3 years and $400 unguarnteed residential value the computers revert back to the lessor at the end of the lease term . Bonita uses the straight line method of depreciation for all of its property , plant and equipment .Bonita incremental borrowing rate is 11% and implicated rate is unknown .Compute the present value of the minimum lease payments
Mathematics
1 answer:
Nadusha1986 [10]2 years ago
4 0

The present value of the minimum lease payments for Bonita Corporation, which signed a noncancelable lease, is <u>$11,121.35</u>.

<h3>What is the present value of the minimum lease payments?</h3>

The present value of the minimum lease payments is the sum of all of the future lease payments, expressed in present value terms, including the estimated value of the leased asset after the lease period.

The present value of the minimum lease payments can be computed using the PV factor or formula.

It can also be computed using an online finance calculator, as follows:

<h3>Data and Calculations:</h3>

N (# of periods) = 3 years

I/Y (Interest per year) = 11%

PMT (Periodic Payment) =- $4,100

FV (Future Value) = $0

<u>Results</u>:

PV = $11,121.35 ($12,300 - $1,178.65)

Sum of all periodic payments = $12,300 ($4,100 x 3)

Total Interest $1,178.65

Thus, the present value of the minimum lease payments for Bonita Corporation, which signed a noncancelable lease, is <u>$11,121.35</u>.

Learn more about minimum lease payments at brainly.com/question/17164931

#SPJ1

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