The present value of an annuity factor where n fair market value of the leased asset less the present value of the asset's residual value.
- Fair market value (FMV) is the amount that a product would sell for on the open market providing that both the buyer and the seller are acting in their own best interests, are not under any undue pressure, are allowed a reasonable amount of time to complete the transaction, and are both reasonably informed about the item.
- Typically, three or more comparable homes are averaged to determine fair market value.
- A common method for figuring out a home's fair market value, or the price a buyer is willing to pay in a specific market, is to use comparable sales.
To know more about Market here
https://brainly.com/question/19452218
#SPJ4