Tagged With "Quicken Loans"
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Re: The End Of The Day With Ray! Don’t Screw Up Your Defining Moment
I've got shut down customers asking how we can help them because they can't operate. It sucks for us but it sucks way more for them. I have "suspended" an MA for one because they asked" no cost no expense". I was lucky enough to get my PPP loan in on day one, approved and closed. I live to fight another day but I don't think things will change all that much. Americans are not going to change everything because of Covid 19, I may be wrong (wouldn't be the first time) but this is a major...
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Re: Sharp bond risk jumps as losses over 4½ years top $10 billion
WOW! Some take ways from the article above: Sharp does not have core business that it can look to in the future 510 billion syndicated loan payment due March of 2016. That's almost 4.2 billion US dollars! Ouch! "The chances of banks calling the 103-year-old company’s loans are therefore low", seems to me like there are more cuts to come, more business units to sell. Banks accepted shares in the company earlier this year after it defaulted on debt payments
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
Here is a report from leasingnews.org. One of their legal editors is doing a three part review of this legislation. Leasing News Exclusive: State Senator Steven Glazer and the genesis of CA SB 1235 (Part 1 of 3) By Tom McCurnin Leasing News Legal Editor This is important not only if you are doing commercial business in California, but this may affect other states. If you are new to this, here is legislation passed both the assembly and senate, awaiting California Governor Jerry Brown’s...
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Re: Is This the Beginning of the End for the Padding of Lease Rates?
from today's Leasing News. Ralph Petta Reaction to Tom McCurnin's "Is the Disclosure Too Complicated? of SB 1235" [ http://leasingnews.org/hires/petta_ralph2018.jpg ] From: Ralph Petta President and CEO Equipment Leasing and Finance Association 1625 Eye Street, NW * Suite 850 Washington, DC 20006 "Allow me to take exception and set the record straight with respect to Mr. McCurnin's statement in his September 21 article(1) about passage of disclosure legislation in California, SB 1235 that...
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Re: Time in business requirements
yup, we've got the same BS issues with the same leasing companies, go figure they can't make money if they don't loan money, it's viscous cycle..
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Re: Time in business requirements
The leasing company makes money when and if they are paid back, not when they lend the money! The rep is always free to cosign the loan if they think it's a BS issue but I think it would suddenly become a REAL issue at that point. After all, at that point we'd be talking about REAL money, not OPM. The leasing company is just wisely refusing all businesses under two years, then looking at the credit app and seeing that there is basically nothing on the app to support the loan, so they request...
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Re: Time in business requirements
Cash Gap: Going back to the past and seems like you've been in the biz for a long time. There was a time when: If you were over 2 years in biz, 90% of the time no PG was required. The leasing companies that you did business with would not "cream" the apps, they would take the good, the bad and the ugly (well, sometimes with the ugly) Problem now, is that all leasing companies want the cream, and that's where I have an issue, if you want first dibs to our portfolio, don't cream the apps, and...
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Re: Time in business requirements
I can agree that they leasing companies (and all lenders) acted foolishly in the past. Now the banks are acting like banks. That's not bad, though it may make it tougher to provide people with equipment you, I and they all know they have no business leasing. [If you were over 2 years in biz, 90% of the time no PG was required.] And now we know that two years in business is not adequate assurance of the company's ability to make the payments, so more assurance is required in the form of a PG.
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Re: "What is" Section 179
Leasing and Section 179 Did you know that your company can lease equipment and still take full advantage of the Section 179 deduction? In fact, leasing equipment and/or software with the Section 179 deduction in mind is a preferred financial strategy for many businesses, as it can significantly help with not only cash flow, but with profits as well. Non-Tax | Capital Lease The main benefit of a non-tax capital lease is that you can still take full advantage of the Section 179 Deduction, yet...
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Re: Xerox Authorized Sales Agent
It would be in Canada, but I'm sure many of the rules are the same. As far as I know, Canada only uses Xerox Authorized Sales Agents and Dealerships, except for in Toronto, Ottawa and Vancouver (major cities). copier-seo-guy: May I ask what some of your startup costs were? Did you get a business loan or self-fund your business?
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Re: Storage of competitor's equipment during lease
Mr./Ms. customer, "Ultimately your name is the one on the lease. If the equipment gets damaged or doesn't get returned, you are the one they will be coming after. If payments don't get made, your credit rating is the one that is effected. Ask yourself this, would you loan me or any of my competitors your car? Probably not for all the same reasons you might not want to trust them or even me with your copier. I can give you every assurance that we would accept responsibility for anything that...
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Re: Copier Scams Part Deux "Dude Where's my Copier"?
That's not really the point I was trying to make. The point is that a salesrep shouldn't assume anything as fact because the facts vary from dealer to dealer and lease to lease. That having been said, you are missing a big part of the lease equation and that is the "alternative forms of revenue" that comes at the end of the lease. Anytime a lease is ended effectively, the lease company loses the chance of an automatic renewal (evergreen clause), in some cases they lose the chance to sell the...
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Re: Upgrading Memory on 2018d Fax Option
A Tech Instructor at Ricoh told me that memory cannot be upgraded on the 2018d with the all-in-one print/scan/fax option. The system comes with 192mb RAM and the fax option has 160 pages of fax memory. However, if customer is sending out 50 pages of loan docs using legal paper, and has more than 25% coverage, the memory cannot hold the load. And there is no way to partition the memory so only the fax can use more of the 192mb. My only option was to propose a 4410L with Feature Expander as an...
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Re: The Death of the 48, 60 and 66 Month Lease
A mandate like that would drastically increase the monthly budget of non-profits and other cost-conscious organizations. The right lease term for a client isn't up to us as salespeople; it's up to the client. Meeting their needs (not setting yourself up to churn your base) should be the priority when discussing lease term options with a client. Some companies want the latest & greatest technology and are fine paying more over a shorter term to have that luxury. Others don't care about...
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Re: Nuance Imaging Division was just sold to Kofax for $400 Million Cash
Vince THanx for this. I just pulled up a recent Wikipedia on them: Thoma Bravo Purchases Kofax [ edit ] Thoma Bravo , a private equity and growth capital firm , secured the July 2017 acquisition of Lexmark’s Enterprise Software business which consists of three entities: Kofax, ReadSoft , and Perceptive Software. [36] Following this, Kofax and ReadSoft would combine into a single, newly independent Thoma Bravo portfolio company. [37] The First Mile [ edit ] The “First Mile” is a trademark of...
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Re: Leasing Companies are not Exempt from Changes
Wow - that was quite the read. While there are a few details that I have a differing opinion on, I cannot agree more with Ray on the the fact that change is coming and the Leasing industry has not choice but to change with it. The question is not "will leasing companies change", but how much will they change and how much will they be able to change within their existing framework. Many of these leasing companies are part of larger banking organizations and will the regulatory and legal...
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Re: Leasing Companies are not Exempt from Changes
Thanks for commenting the first step to change is the ability to discuss why you should. As all of know change is usually a forced reaction unfortunately. I would say that the real disruptions to any deliverable are those which come from new places. too many see their competitors as someone like them. Today we all need to look in new places. Regarding Quicken I believe the mass market they attract are not 800 plus credit scores. The interest paid by end-users doesn't need to necessary be...
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This Week in the Copier Industry 5 Years Ago, The Third Week in January 2014
Enjoy the threads from 5 years a go this week! Topic Five Vendors Earn Winter 2014 BLI “Picks” in the A3 Color Category Art Post · 1/23/145:35 PM buyers. Konica Minolta Business Solutions, U .S.A., Inc. Konica Minolta bizhub C 364e Outstanding 31- to 40-ppm A3 Color MFP Konica Minolta bizhub C 454e Outstanding 41- to 50-ppm A3 Color MFP KYOCERA Document Solutions America, Inc. KYOCERA TASKalfa 5551ci (Also sold under the Copystar brand) Outstanding 51- to 60-ppm A3 Color MFP Ricoh Americas...
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This Week in the Copier Industry 15 Years Ago, The First Week in October 2003
Not a lot here this week, but some interesting items that included Canon Business Solutions and a duplicator that was introduced with a paper tray. Oh yes, and the question of the week was who was going buy Imagistics. Can anyone answer that? Enjoy the threads from 15 years ago this week: Off & Running! 10/1/034:02 PM Solutions U .S.A., Inc. As one company, Konica Minolta Business Solutions has: · · A projected revenue of over $1.5 billion · · Over 6,000 employees supporting more than...
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This Week in the Copier Industry 10 Years Ago, The First Week in October 2003
In the office on Friday we had a chat about the manufacturers in the industry. My thoughts centered around KonicaMinolta and the great job they're doing with diversifying. Ricoh was at the bottom of the list. Enjoy the threads from ten years ago this week: Ricoh Offers Managed Print Services to Reduce Printing Complexity 10/2/0811:10 PM . In the past, printing was simple as everyone either shared one device or had a personal printer . Now the printing landscape is more complex with multiple...
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Leasing Companies are not Exempt from Changes
Those in the technology industry face many challenges caused by innovation, new competitors, and changing buyer habits. Regardless of your core function in the technology deliverable whether you are a manufacturer, software provider, lessor or a reseller who delivers equipment and its services to the end-users, no one can assume yesterday’s circumstances will remain relevant tomorrow. Today all leasing companies in the channel are delivery models based on a monthly payment where hardware is...
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Xerox Wins Coveted 2019 Document Imaging Software Line of the Year Award from the Analysts at Keypoint Intelligence
Keypoint Intelligence - Buyers Lab, the world’s leading independent evaluator of document imaging software, hardware, and services, today announced that Xerox Corporation has won Buyers Lab’s coveted 2019 Document Imaging Software Line of the Year award. Given once a year, this award recognizes the vendor that offers the most complete software portfolio across the range of document imaging solutions categories that Buyers Lab covers on its bliQ subscription service. To determine the Software...
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This Week in the Copier Industry 10 Years Ago for the Last Week in April of 2010
Interesting about what a difference 10 years can make in an industry. Just this week Canon profits will drop 80%. Ten years ago they had posted a profit that had tripled. Ten years ago clients and sales people alike were all concerned about latent images left on copier hard drives. Enjoy these threads from ten years ago this week! Weekend Industry Notes for 4/25/10 Neal · 4/26/107:24 AM which has resulted in the opening of offices in 15 metropolitan areas in the last year - Rosetta...
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Xamin and PSC Group Design PPP Loan Process Platform to Accelerate SBA Loan Processing ...
CHICAGO--( BUSINESS WIRE )-- Xamin , a leading provider of managed IT services for highly regulated and reputation-sensitive companies, announced today its partnership with PSC Group , a professional services and information technology consulting firm, to create a new Paycheck Protection Program (PPP) loan process platform, aimed to help financial institutions streamline and accelerate the processing of applications and facilitate the forgiveness of funds. After facing the initial challenges...
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Cybersecurity Update
- TV celebrity Scott Disick, father of 3 children with Kourtney Kardashian, has filed a lawsuit against All Points Lodge Rehab in Edwards, Colorado for a HIPAA breach. o He reportedly had recently checked himself into the facility for substance abuse, and apparently an employee at the facility may have sold this story to tabloid publications. - Ann and Robert Lurie Children’s Hospital of Chicago, IL notified 4,824 patients that their PHI was illegally accessed by a former employee. - Vanessa...
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Re: Leasing and the credit crunch
Go back a few years before that: There is a whole lot of finger pointing going on in the world of politics this week. For those of you who would rather stay in the dark, stop reading. I would never want to upset your political party's talking points and ruin your day. But for those who just enjoy history or want to understand how or why we got to this point in financial chaos: 1938 Roosevelt got through a democratically controlled congress Fannie Mae. 1970 Freddie Mac was created by...
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Re: CIT News
Interesting. In effect, they are just getting a VERY expensive loan for the equipment, and they run the risk of missing the depreciation benefit if they don't properly account for the asset. From sole proprietor to Fortune 500, we probably see 1% of deals on dollar buyout, with the rest on FMV because they know they will upgrade before or at the end of term, and want the ability to fully expense the payment along with the lower payment. Our deals are 100% in house leasing, so we don't have...
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Re: Sharp has Serious Money Problems!
(Reuters) - Sharp Corp's main creditors Mizuho Corporate Bank and Mitsubishi UFJ Financial Group are considering extending about 200 billion yen ($2.52 billion) in new loans to the struggling TV maker, Japanese media reported, sending its shares higher on Thursday. The embattled company, with debt of 1.25 trillion yen ($16 billion), is considering selling assets and cutting jobs as it scrambles for money to refinance as much as 360 billion yen of short-term commercial paper and a 200...
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Re: Sharp has Serious Money Problems!
The 100-year-old inventor of mechanical pencils needs to pen a new plan to make it to 101. Sharp Corp. (6753), Japan’s biggest liquid-crystal display maker, put up its Osaka headquarters and some plants as collateral last week to win bank loans after its credit ratings were cut to junk. The supplier to Apple Inc. (AAPL) is also renegotiating a stock sale to Taiwan’s Foxconn Technology Group as it tries to recover from record losses and a 70 percent slump in shares this year. Within six...
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Re: Sharp has Serious Money Problems!
Sharp Corp. (6753) may lose more money than it forecast this year, analysts predict, increasing pressure on the struggling Japanese electronics maker to raise funds and complete a stake sale to Foxconn Technology Group. The company likely will report a net loss of 295 billion yen ($3.8 billion) for the year ending March 31, according to the average estimates of seven analysts compiled by Bloomberg. Sharp last month forecast a 250 billion-yen net loss, eight times greater than originally...
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Re: USA Presidential Poll
SSG says, "The winners here are the nearly 50 million Americans who don't have health insurance. They're the majority of personal bankruptcy cases linked to medical bills, and those who couldn't quit their job because they can't afford to lose employer-provided coverage." It all boils down to socialism vs capitalism and both sides believe in helping those who can't help themselves. The biggest problem I have is paying for other people's obligations so that they can better afford luxeries I...
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Re: Sharp has Serious Money Problems!
SYDNEY (MarketWatch) -- Sharp Corp's (JP:6753)(US:shcaf) lenders are expected to approve funding that will enable the firm to stay afloat through the current fiscal year, the Nikkei reported on Wednesday. Sharp's lenders Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ are expected to approve 180 billion yen ($2.3 billion) of loans lasting until June 2013, according to the report. The rest of the 360 billion yen in funding that Sharp needs will likely be supplied by a syndicated...
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Re: Sharp has Serious Money Problems!
Banks bailing out money-losing Sharp Corp. (6753) to the tune of $4.6 billion may increase their management oversight of the Japanese television maker to support its return to profit. Mizuho Corporate Bank Ltd. and Bank of Tokyo-Mitsubishi UFJ Ltd. plan to send executives to Sharp, the Asahi newspaper reported yesterday. The lenders, based in Tokyo, are selecting the executives and plan to discuss the matter with the company, the newspaper reported, without saying how it obtained the...
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Re: Sharp has Serious Money Problems!
Nov 15 (Basis Point) - Hon Hai Precision Industry Co Ltd's chairman is lining up a T$19 billion ($654 million) loan for his purchase of a stake in Sharp's 10th-generation liquid crystal display (LCD) plant, said sources with knowledge of the matter. Chairman Terry Guo is providing a personal guarantee on the loan, the sources said, who declined to be identified as they were not authorised to speak to the media. A Taiwan investment company owned by Guo will be the borrower on the financing,...
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Re: Governor French Academy files another suit alleging fraud in copier lease
BELLEVILLE -- Governor French Academy may have to file for bankruptcy to protect itself financially from a dispute involving copy machines, the school's headmaster said Thursday. "We started to receive bills out of the blue for copiers we don't have," said Governor French founder Phillip Paeltz. Paeltz said the school has done business with Kevin Welch, of Okawville, for nine years, leasing copying machines from various companies the school staff thought Welch represented. The school staff...
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Re: The curious case of county copiers
"In fact, they would be money ahead to do it" sounds like something you would hear a Savings & Loan officer from the 1920's say. I'll bet that reporter is one swell flapper gal & that their town is the bee's knees.
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Re: 2018d Fax Option Address Book
I have been hung up on this too. The secret is you are missing one extra "OK" to program the info. If you follow the step by step in the manual you will see at the end it says something like "press OK" Even tho you already did that. You have to OK each step then OK the record. Or loan them a NIC, set up the addy book and remove the NIC.Just (almost) kidding about that part But over a network is so much easier.
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Re: Marlin Leasing Doing the Dirty Deed to Dealers?
I do like our new rep as she lives close to us and is really trying for some business even though I explained to her before she ever came to meet with me that we were extremely pleased with great America and had no intentions of moving our business. What I do use them for is the questionable credit as they have a program (I think fairly new) that will do 36 month leases for bad credit or no credit people. I just did one last week that no leasing company would touch because of previous loan...
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Avoiding Leasing Pitfalls
Avoiding Leasing Pitfalls (BTA - Office Technology Magazine) Your customers are trusting you - should they?By Mark A. Schmitt, Greater Bay Bancorp/Greater Bay CapitalLeasing can be very safe and customer friendly. But it often involves a substantial...
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Xerox Accelerates Color
Press Release Source: Xerox Corporation ADDING MULTIMEDIA Xerox Accelerates Color Growth, Taps Solid Ink Technology to Deliver Breakthrough Multifunction System for Businesses Wednesday March 30, 6:54 pm ET From advertising to R&D, company gears up to meet demand for color documents SAN FRANCISCO--(BUSINESS WIRE)--March 30, 2005--Calling color "a strategic competitive advantage no enterprise should be without," Anne M. Mulcahy, chairman and chief executive officer of Xerox Corporation (NYSE:...
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An EAZ Way to Restore Crippled and Inoperable Systems
For system builders, "gotchas"--glitches that cripple a system or render it inoperable--are a sad fact of life. Gotchas can happen when installing a security update or new software. Likewise when a user edits or deletes Windows registry entries,...
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Scan and Capture from the Copier
Scan & Capture From the Copier by Doug Henschen TABLE: MFP-Based Scan and Capture Options (PDF, 40K) MFP-Based Scan and Capture Options, printable version (PDF, 40K) Just about anyone who knows a thing or two about office equipment knows that modern digital copiers and multifunction devices either include or can be upgraded to support scanning. Meanwhile, most savvy business people are aware that it's faster and more efficient to share information electronically rather than on paper. So are...
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Scan n Capture from the Copier
Just about anyone who knows a thing or two about office equipment knows that modern digital copiers and multifunction devices either include or can be upgraded to support scanning. Meanwhile, most savvy business people are aware that it's faster and...
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Upgrading Memory on 2018d Fax Option
Is there anyway to upgrade the memory that is dedicated to the fax option on the all-in-one module for the 2018d? Guess I was stupid for not asking the customer how many pages they will be faxing out at one time. A mortgage company sending loan docs...
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2008 New Year Greeting from the President, Yoshikatsu Ota
2008 New Year Greeting from the President, Yoshikatsu Ota— Toward Further Growth —Firstly, I would like to wish all of you a very Happy New Year.When we review the world economy, a continued expansionary trend somewhat slowed down due to...
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AMEX sells leasing division 2 Keycorp
Press Release Source: KeyCorpKeyCorp's Key Equipment Finance and American Express Announce Definitive Agreement to Acquire American Express Business FinanceFriday October 22, 1:19 pm ET Acquisition will elevate Key Equipment Finance to one of the...
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Canon Targets Commercial Print Market
Press Release Source: Canon U.S.A., Inc. Canon Targets Commercial Print Market with Expansion of Flagship Digital Press Production PortfolioThursday October 7, 8:30 am ET Growth Strategy Focuses on Introduction of Monochrome imageRUNNER Pro...
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Xerox Sets Standard for Speed, NEW Products!
Xerox Sets Standard for Speed, Functionality with New Wave of 12 Office ProductsTuesday October 5, 8:00 am ET WorkCentre Pro C3545 Advanced Multifunction System Redefines Office Color at Fastest Speeds in Its Class NEW YORK--(BUSINESS WIRE)--Oct. 5,...
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Weekend Copier Notes from 6/21/09
WEEKEND MFP INDUSTRY NOTES 6-21-09 The following is a quick review of copier/MFP industry news from various trade publications. Toshiba announced a number of new A3 b/w MFPs: - eSTUDIO 205L, 255, 305 series: - 20ppm, 25ppm & 30ppm - Base MSRPs of $5095, $6650 & $8,050 - Maximum monthly duty cycles of 80K, 100K & 120K - Base MSRPs fo $8625 & $10,799 - 8.5” full color touch screen LCD control panel - Optional fax board - 600x600dpi (advertised as offering 2400dpi with...