15 Feb Instant Office leases copiers and other equipment. They initiate 360 new leases per week for copiers. 40% of copiers are sent out for short-term leases of four weeks. The remaining
Instant Office leases copiers and other equipment. They initiate 360 new leases per week for copiers. 40% of copiers are sent out for short-term leases of four weeks. The remaining leases are long-term and average twelve weeks. Equipment out on short-term leases is always returned at the end of the lease. However, renters often ask to extend the lease of copiers that went out on a long-term basis. Two-thirds of long-term leased copiers are returned at the end of the lease. The rest have their leases extended for another eight weeks. In addition to copiers out on lease, Instant Office on average has 480 copiers sitting in its fulfillment center.
What is the utilization of Instant Office’s fleet of copiers? That is, what percentage of its copiers is on average out with customers?
There is a $100 fee for delivering a copier on a short-term lease on top of the weekly lease rate of $40. Long-term leases are at a rate of $35 per week and there is no delivery charge. If a lease is extended, the lease rate is reduced to $32 per week. What is Instant Office’s weekly revenue?
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