you currently lease scanning equipment at a cost of 1500 per quarter and two copy machine at $120 each per month. what will you need to budget annually for this leased equipment?
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To calculate the annual budget for the leased equipment, we need to consider both the scanning equipment and the copy machines.
First, let's calculate the annual cost for the scanning equipment:
Cost per quarter = $1500
Number of quarters in a year = 4 (since there are 4 quarters in a year)
Annual cost for scanning equipment = Cost per quarter x Number of quarters in a year = $1500 x 4 = $6000
Next, let's calculate the annual cost for the copy machines:
Cost per copy machine per month = $120
Number of copy machines = 2
Annual cost for copy machines = Cost per copy machine per month x Number of copy machines x Number of months in a year
= $120 x 2 x 12 = $2880
Now, let's add the annual costs for the scanning equipment and the copy machines to find the total annual budget:
Total annual budget = Annual cost for scanning equipment + Annual cost for copy machines
= $6000 + $2880 = $8880
Therefore, you will need to budget $8880 annually for this leased equipment.