Month 1

Adjusted capitalized cost $19,515

$19,515
-390 (1st base periodic pmt)
$19,125 (bal. subject to lease chg)
x.00345 (money factor)
65.98 (rent charge)

$ 390.00 (monthly payment)
- 65.98
$ 324.01 (depreciation mo.1)

Month 2

$ 324.01 (mo. 1 depreciation)
+ 390.00 (1st base periodic pmt.)
$ 714.01

$19,515.00
- 714.01
$18,800.99 (bal subj. to lease chg.)
x.00345 (money factor)
$ 64.86 (rent charge mo. 2)

$ 390.00 (monthly payment)
- 64.86
$ 325.14 (depreciation mo. 2)

Month 3

$ 324.01 (mo.1 depreciation)
+ 325.15 (mo.2 depreciation)
$1,039.15

$19,515.00
- 1,039.151
$18,475.85 (bal subj. to lease chg)
x .00345 (money factor)
$ 63.74 (rent charge mo. 3)

$ 390.00 (monthly payment)
- 63.74
$ 326.26 (depreciation mo.3)

Month 6

$ 324.01 (mo.1 depreciation)
325.14 (mo.2 depreciation)
326.26 (mo.3.depreciation)
327.38 (mo.4 depreciation)
328.51 (mo.5 depreciation)
+ 390.00 (1st base periodic pmt.)
$2,021.30

$19,515.00
- 2,021.301
$17,493.70 (bal subject to lease chg)
x.00345 (money factor)
$ 60.35 (rent charge mo. 6)

$ 390.00 (monthly premium)
- 60.35
$329.65 (depreciation mo. 6)

Month 12

$ 324.01 (mo.1 depreciation)
325.14 (mo.2 depreciation)
326.26 (mo.3.depreciation)
327.38 (mo.4 depreciation)
328.51 (mo.5 depreciation)
329.65 (mo.6 depreciation)
330.78 (mo.7 depreciation)
331.96 (mo.8 depreciation)
333.07 (mo.9 depreciation)
334.22 (mo. 10 depreciation)
335.37 (mo. 11 depreciation)
+ 390.00 (1st base periodic pmt.)
$4,016.35

$19,515.00
- 4,016.35
$15,498.65 (bal subj to lease chg.)
x.00345 (money factor)
$53.47 (rent charge no. 12)

$390.00 (monthly payment)
- 53.47 (rent charge mo. 12)
$336.53 (depreciation mo. 12)

Total Depreciation Paid Mo. 12

$ 324.01 (mo.1 depreciation)
325.14 (mo.2 depreciation)
326.26 (mo.3.depreciation)
327.38 (mo.4 depreciation)
328.51 (mo.5 depreciation)
329.65 (mo.6 depreciation)
330.78 (mo.7 depreciation)
331.96 (mo.8 depreciation)
333.07 (mo.9 depreciation)
334.22 (mo. 10 depreciation)
335.37 (mo. 11 depreciation)
336.53 (mo. 12 depreciation)
$3,962.88