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January 22, 2023

On January 1, 2021, Harlon Consulting entered into a three-year lease for new office space agreeing to lease payments of $6,600 in 2021, $9,200 in 2022 and $11,800 in 202

On January 1, 2021, Harlon Consulting entered into a three-year lease for new office space agreeing to lease payments of $6,600 in 2021, $9,200 in 2022 and $11,800 in 2023. Payments are due on December 31 of each year with the first payment being made on December 31, 2021. Harlon is aware that the lessor used a 8% interest rate when calculating lease payments. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

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