Mighty inc leases some of the equipment it uses. the lease term is five years, and the lease payments are to be made in advance as shown in the following schedule.
January 1, 2015 60,000
january 1, 2016 60,000
january 1, 2017 90,000
January 1, 2018 110,000
January 1, 2019 140,000
Total 460,000
