$16.$ Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January $1,2024.$ The manufacturing cost of the computers was $$21$ million.

This noncancelable lease had the following terms:

Lease payments: $$3,204,433$ semiannually; first payment on January $1,2024$; remaining payments on June $30$ and December $31$ each year through June $30,2028.$

Lease term: $5$ years $(10$ semiannual payments$).$

No residual value; no purchase option.

Economic life of equipment: $5$ years.

Implicit interest rate and lessee's incremental borrowing rate: $6\%$ semiannually.

Fair value of the computers on January $1,2024$: $$25$ million.

What is the interest revenue that Technoid would report for this lease in its income statement for the year ended December $31,2024?$

Multiple Choice

None of these answer choices is correct.

$$2,501,666$

$$0$

$$1,307,734$

$17.$ Linsmeier Corporation entered into a nine$-$year finance lease on a warehouse on December $31,2024.$ Lease payments of $$32,000,$ which includes maintenance services of $$1,600,$ are due annually, beginning on December $31,2025,$ and every December $31$ thereafter. Linsmeier does not know the interest rate implicit in the lease; Linsmeier's incremental borrowing rate is $13\%.$ The rounded present value of an ordinary annuity for nine years at $13\%$ is $5\mathrm{.}1317.$ What amount should Linsmeier report as recorded lease liability on December $31,2024?$

Multiple Choice

$$160,000$

$$156,004$

$$273,600$

$$164,214$

$18.$ On June $30,2024,$ K Company had outstanding $9\%,$ $$13,500,000$ face value bonds maturing on June $30,2029.$ Interest is payable semiannually every June $30$ and December $31.$ On June $30,2024,$ after amortization was recorded for the period, the unamortized bond premium was $$53,000.$ On that date, K acquired all its outstanding bonds on the open market at $98$ and retired them. On June $30,2024,$ what amount should K Company recognize as gain on redemption of bonds before income taxes?

Multiple Choice

$$188,000$

$$270,000$

$$75,000$

$$323,000$