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Question: king cones leased ice creammaking equipment from ace leasing ace...

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King Cones leased ice cream-making equipment from Ace Leasing. Ace ears interest under such arrangements at a 6% annual rate. The lease term is six-months with monthly payments of $11,000 due at the end of each month. King Cones elected the short-term lease option What is the effect of the lease on King Cones earnings during the six-month term (ignore taxes)?
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