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12 2.5 pts Coronado Consulting leased machinery from Island Inc. on July 1, 2021. The lease was recorded as a finance lease. The present value
12 2.5 pts Coronado Consulting leased machinery from Island Inc. on July 1, 2021. The lease was recorded as a finance lease. The present value of the lease payments discounted at 9% was $60 million. Ten annual lease payments of $8 million are due each July 1 beginning July 1, 2021. What amount of interest expense from the lease should Coronado report in its December 31, 2021, income statement? O $1,725,000 O $2,340,000 $0 O $2,400,000 O None of the options listed
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