Find the purchase price if the implicit interest rate is 12%, lease period is 5 years and annual lease payment is Rs 20,000. A company leases a machine on a payment of Rs 10,000 per annum for a period...

Find the purchase price if the implicit interest rate is 12%, lease period is 5 years and annual lease payment is Rs 20,000.

A company leases a machine on a payment of Rs 10,000 per annum for a period of 4 years. The payment is made at the beginning of the year. Calculate the cost of leasing.