What is the total of swiftys lease payments

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Reference no: EM133538390

Question: On January 1, 2025, Swifty leases a building from Capital Leasing for 10 years with a monthly lease payment of $15200 payable at the beginning of each month. The lease contract allows Swifty to terminate the lease after three years by paying a cancellation clause of $228000. At the start of the lease, Capital is reasonably certain that Swifty will not continue the lease past three years. Ignoring the time value of money, what is the total of Swifty's lease payments that would be used in the present value test?

Reference no: EM133538390

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