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Lease problems Tag

Question 3 Jacks Mining and Manufacturing Company (JMMC) leases from Emily Leasing Company three machines under the following operating lease terms: Machine 1: Lease period – 10 years, beginning April 1, 2005; lease peyments-$18,000 per year, payable in advance.Machine 2: Lease period – 10 years, beginning July 1, 2009, lease payments-$30,000 per year, payable in advance.Machine 3: Lease period – 15 years,