一道financial lease的题目~~求救~~~

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看过很多论坛都发过这道题目，但是没人解答，就再发一次~~~

A company wishes to finance its acquisition of an asset costing $10,000 through a four year lease. The terms of the lease are: 10% per annum effective interest rate, monthly payments in arrears, 40% residual. The corporate tax rate is 40%.

 

Required:

 

1. What is the effective price paid for the lease after tax? (Assume that the lessee’s opportunity cost of capital is 14%).

 

2. What rate of return (IRR) does the lessor earn after tax?

 

3. Suppose that the lessor wishes to increase its IRR by leverage. It borrows $9,000 of the $10,000 purchase price of the asset (secured against that asset) at 11% effective per annum (what is the nominal rate?). This is an interest only loan with monthly payment in arrears (interest payments are tax deductible). What is the IRR on this leveraged lease?

 

现在困惑这个40%residual到底什么意思，还有是monthly payment，因此需要列出每个月的cashflow吗~~~最后lessee是否获得这个东西的拥有权~

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关键词：financial Financia inancial nancial Financ financial 题目 求救 Lease

每月付租赁费，是否是每月欠账不得超过40%?

40 percent residue is valuation of the asset at the end of the lease, this is aquisition lease, so that the company has to pay residue value for the rental company for ownship of the asset. Monthly payment of the lease is like mortgage payment, basically the company pay 60 percent using monthly payments, and 40 percent at the end. Mortgage rate is 10 percent per annum, monthly payment is at the end of the monthly. Since interest costs are deductable so that effective rate would be lower.

另外，如果payment是monthly. 那么也应该把利率换算成monthly来进行计算吧。之后才考虑税务的影响来计算effective interest rate.

同学,给个联系方式吧,我们也在学这门课,FINC6000,大家一起讨论下吧~~

这是一道operating lease 拉～～～～