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Lease term v lease life?
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Becker has a problem where a lease has a five year term and the useful life of the asset is six years. Therefore, this qualifies as a finance lease.
However, they use the PV factors for five years, rather than six. Iām confused because I thought a finance lease used PV factors for the longer of the lease term/life.
This is an annuity due (first payment made on start of lease). Is that why they are using the PV factor for five years, or is there something else Iām misunderstanding?
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