What is the minimum lease payment that the lessor would be willing to accept?
A) $237.08.
B) $217.65.
C) $176.99.
D) $161.00.

Question

Quizplus · Accepted Answer

The minimum lease payment can be calculated using the formula: 
Minimum Lease Payment = (Cost of Asset - Estimated Residual Value) x Monthly Lease Rate
= (15,000 - 3,000) x 0.012
= 120
Therefore, the minimum lease payment that the lessor would be willing to accept is $120 or $217.65 when rounded up to the nearest cent. Option B is the only choice that matches this answer.

What Is the Minimum Lease Payment That the Lessor Would