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FINANCE LEASES
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
FINANCE LEASES FINANCE LEASES
The Company has ten finance lease obligations with three financing companies, collateralized by Gamma Knife and PBRT equipment having an aggregate net book value of $22,860,000, the individual customer contracts and related accounts receivable of $4,600,000 at December 31, 2019. These obligations have imputed interest rates ranging between 4.73% and 13.00%, are payable in 44 to 81 monthly installments, and mature between May 2020 and September 2024.
As of December 31, 2018, the Company had eleven finance lease obligations with three financing companies, collateralized by Gamma Knife and PBRT equipment, the individual customer contracts and related accounts receivable, having an aggregate net book value of $26,267,000.
At the end of each lease term, the Company has a bargain purchase option to purchase the equipment.
Future minimum lease payments, together with the present value of the net minimum lease payments under finance leases at December 31, 2019, are summarized as follows:
Net Present Value
of Minimum
Lease Payments
Year ending December 31,
2020$4,610,000  
20216,312,000  
20221,291,000  
2023846,000  
2024521,000  
Total finance lease payments13,580,000  
Less imputed interest1,694,000  
11,886,000  
Less current portion3,709,000  
$8,177,000