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1.25 points On December 31, 2015, Hidd Corporation leased a ship from Fort Company for an eight year period expiring December 30, 2023 Equal annual
1.25 points On December 31, 2015, Hidd Corporation leased a ship from Fort Company for an eight year period expiring December 30, 2023 Equal annual payments of $200.000 are due on December 31 of each year beginning with December 31, 2015 The lease is properly classified as a finance lease on Hidd's books The present value at December 31, 2015 of the eight tease payments over the lease term discounted at 10% is $1.173 685 Assuming all payments are made on time the amount that should be reported by Hidd Corporation as the total tease liability on its December 31 2016 statement of financial position O A $1,091,054 8. $871,054 OC $1,000,159 OD: $1,200,000
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