In computing the annual lease payments, the lessor deducts only a guaranteed residual value from the fair market value of a leased asset.

$65,000 is borrowed, to be repaid in 3 equal payments with 13% interest. Approximately how much principal is amortized witht he first payment?

a. $3,578.76 b. $27,528.93 c. $8,450.00 d. $19,078.93

All of the following have led to the development of outsourcing of manufacturing around the world except:

A) technology. B) globalization of trade. C) environmental concerns. D) high levels of wage disparity between the developed and undeveloped worlds.